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Today is Friday August 19, 2016
ULTA reports earnings next Thursday August 25th after the bell
It’s riding a streak of 10 straight beats
The stock typically goes up 9% in the 7 days after earnings
Two quarters ago, it reported an 11% increase in same-store sales
That’s amazing and almost unheard of.
People didn’t think it could top it last quarter, but it did!
Last quarter it reported a 15% increase in same-store sales.
Can it keep raising the bar for same-store sales?
Ulta is one of our favorite stocks
It’s up 46% year to date
And it hit an all-time high of $271 yesterday
It might be priced for perfection.
Everyone’s going to be looking at same-store sales when it reports earnings
With that in mind, here’s our earnings play
We recommend buying the $270 call
Pick the expiration of next Friday August 26th
We anticipate that Ulta’s stock price could run up into earnings
It could hit $280 or $290 by next Thursday August 25th
If it does, sell the call right before the close Thursday August 25th
You might be able to sell the call for a decent gain
We hope that Ulta can make our portfolio more beautiful
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