Sell to close the February 15, 2019 put on Wendy’s Company (NYSE: WEN) with a strike price of $17.00 at $1.10 or higher. Symbol (WEN190215P17)

These puts are up about 57% in one week. As many of you know, I like to book a solid gain when it presents itself. I don’t foresee a huge rally in this stock so some of you may choose to place a stop loss limit around my suggested price. This will allow you to enjoy any further upside and will allow you to sell close to this price if the stock rallies.

I suggest holding on to the McDonald’s (NYSE: MCD) and Restaurant Brands International (NYSE: QSR) puts as they both have expiration dates further out in the future.

Be patient with your price limits. As you know, the market swings wildly during a single session. I don’t expect any stock specific news events to move this group higher so believe you have time to get filled at a reasonable price.