tsla

Restaurant Stock Could Climb Closer to Record Highs

There's been a fierce appetite for calls lately

Digital Content Manager
May 10, 2023 at 1:13 PM
facebook X logo linkedin


Darden Restaurants, Inc. (NYSE:DRI) stock is down 1.5% at $148.10 at last check, after news the company will acquire the parent of Ruth's Chris Steak House for $715 million. This negative price action isn't likely to last, though, as a pullback from the $154 area has placed DRI near a trendline that has generated tailwinds in the past. While the security already sports a 16.9% year-over-year lead, a rally would help it build upon its 7.1% gain for 2023.
 
The trendline in question is DRI's 80-day moving average. According to Schaeffer's Senior Quantitative Analyst Rocky White's last study, the stock saw seven comparable signals during the past three years, and was higher one month later 71% of those times, averaging a 9.7% gain. A similar move would place Darden Restaurants stock above $162 for the first time since its September 2021 record highs.

 

 DRI 80 Day 

Options bulls seem to be in on the secret, as there's been an appetite for calls lately. This is per DRI's 50-day call/put volume ratio of 2.13 over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks higher than all readings from the last 12 months.

Weighing on the stock's next moves with options could be an excellent idea, given its Schaeffer's Volatility Index (SVI) of 20% stands in the low 4th percentile of readings from the past year. This means premiums are affordably priced right now.

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.