Home > Boards > Free Zone > All Trading - Technical > Abet Chichi2 (Chichi2)

Option Traders Eat Up Wendy's (WEN) Stock After

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
DiscoverGold Member Profile
Member Level 
Followed By 542
Posts 72,586
Boards Moderated 42
Alias Born 03/10/04
160x600 placeholder
DiscoverGold Member Level  Wednesday, 05/12/21 03:39:20 PM
Re: None
Post # of 73392 
Option Traders Eat Up Wendy's (WEN) Stock After Earnings
By: Schaeffer's Investment Research | May 12, 2021

• Wendy's increased its dividend, stock repurchase plan, and full-year guidance after earnings

• The fast food chain is trading at its highest level this year

Wendy's Co (NASDAQ:WEN) is moving higher this morning, last seen up 3.5% to trade at $23.59, after reporting first-quarter top- and bottom-line beats. In addition, the fast food chain announced its comparable-restaurant sales rose 13.5% in the U.S. In response, Wendy's raised its dividend by 11%, boosted its stock repurchase plan by $50 million, and increased its full-year guidance.

The resulting surge helped WEN lock in a new 2021 high, hitting $24.18 early in the session. The equity faced a ceiling at the $23.10 level for much of the year, but that area could start acting as a floor. Wendy's stock is now poised for its highest close since Oct. 27, and boasts a 12.4% year-over-year rise.

Wendy's typically quiet options pits are exploding today, with traders from both sides of the aisle chiming in. So far, 6,441 calls and 5,587 puts have exchanged hands, which is a staggering 68 times the intraday average. The most popular position is the May 24 call, followed by the 23 put in the same series.

There's been an undeniable preference for puts coming into today. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), WEN sports a 10-day put/call volume ratio of 1.02, which stands higher than 86% of readings from the past year.

Read Full Story »»»


Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
Current Price
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences