Lululemon (LULU) is set to report earnings on March 21st and the market is pricing in a 10.1% move in either direction. LULU stock is rated a 56% Buy according to the Barchart Technical Opinion with a weakening short term outlook on maintaining the current direction. The following trade will do well if the stock stays below $540 between now and March 21st. The strategy is called a diagonal call spread and it’s an advanced strategy because it utilizes options over different expiration periods and different strike prices. The strategy involves selling an out-of-the-money call for a near term exp…