The average move 1 week after earnings on Workday has been -1% and it has moved down the last 3 out of 4 earnings after reporting. The market has been acting "toppy" lately due to the China tensions and things have sold off even with decent reports. The two exception have been $ROKU and $TGT.
We believe long term Workday is a solid company but we believe the valuation is starting to become more lofty here and there could be a short term pull back.
Play: We recommend selling calls to collect premium here.
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