ULTA Earnings Trade of the Day 9.12.2013

Currently the options market is implying a move of $8.80 by September expiration. This would give us an upside target around $109.00 by September expiry.

Trade:
Buying the ULTA Sep 105-110 Call Spread for $1.60
Risk: $160 per 1 lot
Reward: $340 per 1 lot
Breakeven: $106.60