Wendy's (WEN) is on some run. Right before a big week for them, Options buyers are active. What are they playing and how are they playing it? Take a look.
Unusual Call Options Activity in WEN
WEN is now officially on the radar as more than 17,000 Options traded today. You can how lopsided the trades were, with 98% of the activity on the Call side (Click the image to get more data).
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Specifically, you can see they are looking at March options where the $24, $25, and $26 options are active. More than 7,000 traded in the $25s Calls.
These $25 Calls at a little $0.58 imply a Target Stock Price of $27. (If you are wondering about the shaded vs non-shaded area, watch this video CLICK HERE) That's another 14% or so higher. Check out the chart below:
Can it really get there?
What do you think?
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