Traders Make Bullish Bets On Lululemon Athletica Ahead Of Earnings

Shares of Lululemon Athletica Inc LULU have lost more than 14% year-to-date.

On CNBC's "Options Action," Mike Khouw of Optimize Advisors said the stock traded more than three times its average daily options volumes on Monday, with calls outpacing puts by about 2-to-1.

“Right now, the options market is implying a move of about 7.5% higher or lower by the end of the week,” he added.

Check out other stocks making big moves in the premarket.

There were buyers of 1,279 of the April 1 weekly 300 strike calls for an average price of $11.50 per contract, Khouw mentioned. The buyers of these are betting that the stock trades to the upside by Friday.