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UnknownUnicorn2997486

Papa John's Set To Recover

Long
Papa John's International, Inc. (NASDAQ:PZZA)  
UnknownUnicorn2997486  
NASDAQ:PZZA   Papa John's International, Inc.
Trend Analysis Technical Indicators Beyond Technical Analysis options options-strategy strangle optionstrading
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PZZA fell on Wednesday after news that a major bidder, Trian Fund Management LP, is no longer pursuing the company.

This follows a long rally for the stock, despite a broad market sell off. I think we'll see some consolidation here followed a modest gain as more news and bidders come into the picture.


I entered long at 47.87 here, with a strangle at DEC21 expiration.

DEC 21, 52.5C, 47.5P

Options Chart:
twitter.com/micahdon.../1068173860976111617
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