This Restaurant Chain is Ripping Higher

Shares of fast food and predominantly carry out restaurants have recovered sharply since the March lows in the market, and some of these stocks are at 52 week highs already.  For example look at shares of Domino's Pizza (DPZ), Papa John's (PZZA) and Wingstop (WING), all three are at or very near their 52 week highs right now.

We definintely didn't see this trend happening so quickly, and while it will likely continue we're taking a cautious approach to add a position at a more attractive entry point.

We are selling the May 2020 $80 Puts on WING at $1.30 today, if the stock retreats from $112 to $80 in the next month we will buy shares at a net cost of $78.70.  If shares are higher than $80 at expiration then we will keep the premium and move on.