DD on Levi (Buying puts tmrw)- earnings Wednesday AH
Posted: Apr 02, 2024
- Levi's (LEVI) is expected to release earnings on Wednesday - Analysts are predicting a decline in revenue and EPS for Q1 2024 - Despite forecasting higher revenue and EPS for FY 2024, Q1 numbers are puzzling - UBS analyst expects a small beat for Q1 but potentially lower guidance for the year - Risk/reward favors buying puts over calls, stock is up 25% YTD - Risks include potential increase in sales due to Beyonce mention and high short interest - TLDR: Expecting poor guidance from Levi's, planning to buy LEVI $20 puts for May and July
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