Originally posted on 09/10/2011:

Don't normally post my option plays but I'm looking to get short on ULTA. I know its the weekend, but traders never rest.

This stock recently released earnings that were 2 cents or 5.88% over analyst estimates. This being said, there are a couple of big negatives for this stocks. Firstly, it is trading above a 46 P/E Ratio, more then 100% over the ratio's of its sector competitors. Secondly, Stock has reached a new high of 68.80. I don't believe market forces will push this stock very far above this with such a high price for its earnings. Lastly, This stock has been run up almost 30% in the last month and I believe that a pullback is due.

Looking to get in on the October 22 55 puts currently trading at an ask of 1.25. Look for this stock to drop around 10% in the coming couple weeks and you'll be able to get a great return. Good luck.