Option Millionaires

[JcNY]

I’m curious if anyone has a simple answer as to why the premiums on lulu options were so high going into earnings, I watched it a lot this week along with a couple others. Comparing it to tsla I was surprised how expensive they were especially because tsla is trading over $100 a share more. Anyone have an opinion about why this happens or happened here? I noticed also today, as much as the lulu stock dropped, Calls and puts are both red today. Seemed like it was a trap either way. Stock is down 5% currently and the itm puts are down over 30%. Is there a good reason for this, other than the premiums were to high to begin with? Glad I didn’t buy it. Just trying to understand a little. TIA