Posted on March 1, 2023
We’re coming at you early this week to take advantage of a marvelous opportunity from Bloomin’ Brands (NASDAQ:BLMN), operators of steak and fish chophouses since 1988.
We’re no great fans of the restaurant business these days, for a number of reasons.
But when one offers such an inviting risk/reward profile, it’s difficult to steer clear.
Today’s hand-crafted, risk-defined options trade is brought to you by the brothers Saladin…
This could be a trade for the ages.
Let’s take a look at some numbers:
What’s interesting here is how the shares flew higher like a budgie directly after earnings were announced on February 16th.
Problem was, the bulls couldn’t sustain the gains. An eleven percent jump was followed by just a few days of marginal increases, and now—the stock looks more like a dodo than a budgie.
Like we’re on the way to giving it all back (see below).
The technicals offer a multitude of reasons to trade BLMN on the downside, but more than that, they offer the key to precisely how to structure the trade for a maximum gain in the shortest possible time frame.
Many happy returns!