Mixed options sentiment in Lululemon with shares up 2.98%

Mixed options sentiment in Lululemon (LULU), with shares up $5.91, or 2.98%, near $204.09. Options volume roughly in line with average with 38k contracts traded and calls leading puts for a put/call ratio of 0.45, compared to a typical level near 1.26. Implied volatility (IV30) dropped 1.88 near 65.02, in the highest 10% of observations over the past year, suggesting an expected daily move of $8.36. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Lululemon (LULU) will report earnings after the close on 2025-09-04.Option markets are pricing in a 50% probability of a move greater than 10.22% or $20.86.