The following are the notable earnings for this week:
GTLB – earnings will be released on June 3, after close. Gitlab closed at 47.19 last May 31. In my opinion, this will follow the overall sector sentiment as CRM and MDB shares decreased last week after earning estimates missed and light guidance. I will be looking at 41p / 40p contract premium.
BBWI – earnings will be released on June 4, before open. Bath & Body Works, Inc closed at 51.94 last May 31. Quarterly net margin percentage is improving as they are closing store locations that’s not making profit. In my opinion, there’s more room for upside. I will be looking at a 55c / 57c contract premium.
CRWD – earnings will be released on June 4, after close. CrowdStrike Holdings. Inc closed at 313.67 last May 31. I will trade this based on technicals with the help of its peer sentiment. I will be looking at June 360/350 bear put debit spreads. I will also be checking out the 260p / 250p contract premium as well.
DLTR – earnings will be released on June 5, before open. Dollar Tree, Inc. closed at 117.95 last May 31. I think consumers are opting for cheaper goods as basic goods prices in other stores are so high. I will be checking the 125c / 130c / 135c contract premium.
LULU – earnings will be released on June 5, after close. Lululemon Athletica closed at 311.99 last May 31. Retail apparel is resilient based on the reports of its peers. I think this sentiment will follow. I will be looking at the June 295/300 bull call debit spread on this one. I will be checking at the 370c / 380c as well if premiums are within our risk appetite.
DOCU – earnings will be released on June 6, after close. Docusign closed at 54.74 last May 31. Margin of this company is so thin that a missed on estimate will bring this stock price lower. If this is a miss, this will trade to the downside and could technically test 45 levels back again. I will be checking 50p / 45p with a longer expiry. Shorting this stock if earnings estimate misses is fine too depending on the short locates and fees.
Other related play:
TSLA – Tesla closed at 178.08 last May 31. I will be trading this stock depending on the earnings report of NIO. If NIO beat the estimates with strong guidance. I will be looking at 185c / 190c on TSLA.
Nothing is guaranteed here. Stocks mentioned above could trade opposite or sideways depending on the earnings outcome.