DECK announced earnings yesterday after hours. Today it opened at $56.65 and immediately started cruising down. Members were sent alert to buy June 55 Puts for $3.5. Target given was $51.50
In a matter of two hours DECK hit the target and members sold their Puts for $5.60 giving them 51.35% profit within two hours. DECK has hit the low of $51.03 and at this level there were some bottom fishers.
It may go down couple of bucks and then will take its time to decide what to do next. The major move to the downside was over today. I will watch DECK now for the opportunity to buy Calls.
Chart shown below: