Options traders use strangle strategy on Ralph Lauren stock expecting limited price moves post-earnings.

Ralph Lauren's stock rose over 50% in 2025 but has only gained about 4% in 2026 so far. After its May 21 earnings report, the stock shows little near-term catalyst for big moves, making a short strangle options strategy attractive. Traders can sell a June 18th 330 put and 390 call strangle to collect premium, betting the stock will stay within this range until the next earnings on August 7. The brand remains strong with pricing power and international growth, but macroeconomic headwinds and wholesale vulnerabilities limit upside potential. This options trade profits if the stock remains stable within a roughly 10% range either side, reflecting low expected volatility post-earnings.