LULUlululemon athletica inc.
Options Analysis Report•APPAREL & OTHER FINISHD PRODS OF FABRICS & SIMILAR MATL
Market Cap $19.3B|NASDAQ
● 2026-04-17$167.28
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y -34.1%YTD -20.6%7D +2.1%
Options Vol
21,408
30D
Implied Move
±12.4%
IV Rank
24%
LULU Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.4
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks5/9 checks passed
IV Rank
≤35%IV Rank 79.8% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.14x — IV premium over HV
Sector Relative≤50%
Sector percentile 84% — above sector median
Term Structure
<1.1xFront/Back 0.87x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 47.2% — normal range
Spread-Adjusted Value
<80%Effective IV 68.0% (ATM 47.2% + spread 10.4% + bias) — fair
Execution Efficiency
<3.0%Total drag 15.75% (spread 10.40% + slippage 5.35%) — high friction
Vega Efficiency
≥5.0Vega efficiency 51.39 (vega 53.449 / spread 10.40%) — efficient
Sentiment
Bullish or bearish?
5.8
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: +2%, Raw: -0%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +2% (neutral) — Raw: -0%
OI Skew Magnitude
≥15%|OI skew| 5.3% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +15.4%, OI skew +5.3% — aligned
Conviction Quality
≥2/3 conditions0-DTE 44%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -36%, ATM: +15%, OTM: +0% — bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 50% — neutral vs sector
Activity
Unusual activity?
3.9
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.9x avg — normal
Turnover Rate
≥15%Vol/OI 6.0% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +5.8% (5d) — building
Sector Relative≥60%
Sector activity percentile 58% — neutral vs sector
Trade Quality
≥30%Large trade volume 17% — mixed
Execution Urgency
≥60%Aggressive execution 39% — patient
Flow Conviction
≥30Conviction +2 (bullish) — mixed
Liquidity
Can I trade efficiently?
4.3
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 10.4% — wide
Adequate OI
≥10,000OI 354,032 — deep
Active Volume
≥500Volume 21,408/day — active
Reasonable Cost
≤$0.50$0.52 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 84% — much wider than sector
Order Book Depth
≥100 contractsDepth 117.8 contracts (bid:54.8 ask:63.0) — adequate
Execution Quality
<1.0%Avg slippage 5.35% — poor
Timing
Is now a good time?
7.5
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -12.7% — contango
IV Percentile Clarity
<30 or >70IV percentile 80% — seller opportunity
Event Detection
≥10pts kinkIV kink -2.9pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 952.75 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +2% @ 51% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 47 (ITM 20% + inst 17%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls5.7
bullishIV fair, mixed flow
Long Puts5.1
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.4
bullishIV fair, mixed flow
Covered Call4.9
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.