"People want to look good," says Raul Shah in arguing that the beauty industry is less discretionary than many realize. He points to strong price action in companies like Ulta Beauty (ULTA) and e.l.f. Beauty (ELF) despite economic uncertainties. Raul believes these companies actually have the power to raise prices and maintain their audience. Alex Coffey offers neutral to bullish example options trades for Ulta and e.l.f.