Burger King parent Restaurant Brands International Inc (NYSE:QSR) has been in rally mode since its last earnings report in mid-February -- breaching the $56-58 region, which was home to major lows back in 2016 and 2018, as well as the $59 level, which is a 61.8% Fibonacci retracement of the stock's 2018 peak through its 2020 trough. 

And while short interest makes up just 2.8% of QSR's float, it would take almost a week for bears to cover their positions, which could lead to a potential short squeeze situation. The security could benefit from a round of analyst upgrades and/or price-target hikes, too. Of the 17 in coverage, seven still call the fast food stock a "hold," while the 12-month consensus price target of $66.92 is a slim 2.9% premium to Friday's close.

This looks like an excellent time to get in on QSR's next move with options too. The security's Schaeffer's Volatility Index (SVI) of 27% stands in the lowest percentile of its annual range, implying options traders are pricing in extremely low volatility expectations for the equity at the moment. We should also note that our recommended call option has a leverage ratio of 7.9 and will double in a 12.4% rise in the underlying equity.

Subscribers to Schaeffer's Weekend Trader options recommendation service received this QSR commentary on Sunday night, along with a detailed options trade recommendation -- including complete entry and exit parameters. Learn more about why Weekend Trader is one of our most popular options trading services.

APi Group Corp. (NYSE:APG -- $19.23) provides commercial life safety solutions and industrial specialty services primarily in the United States. APi Group will report its Q4 earnings of 2020 before the bell today.

General Mills Inc. (NYSE:GIS -- $61.19) engages in the manufacture and marketing of branded consumer foods sold through retail stores. General Mills will report its Q3 earnings of 2021 before the bell today.

Winnebago Industries Inc. (NYSE:WGO -- $77.15) manufactures and sells recreation vehicles and marine products primarily for use in leisure travel and outdoor recreation activities. Winnebago will report its Q2 earnings of 2021 before the bell today.

Worthington Industries Inc. (NYSE:WOR -- $64.17) operates as a metals manufacturing company. Worthington will report its Q3 earnings of 2021 before the bell today.

American Well Corp. (NYSE:AMWL -- $19.01) engages in the provision of online healthcare services. American Well will report its Q4 earnings of 2020 after the close today.

GrowGeneration Corp. (NASDAQ:GRWG -- $52.17) owns and operates retail hydroponic and organic gardening stores in the United States. GrowGeneration will report its Q4 earnings of 2020 after the close today.

H.B. Fuller Co. (NYSE:FUL -- $58.18) formulates, manufactures, and markets adhesives, sealants, coatings, polymers, tapes, encapsulants, additives, and other specialty chemical products. H.B. Fuller will report its Q4 earnings of 2020 after the close today.

KB Home (NYSE:KBH -- $43.36) operates as a homebuilding company in the United States. KB Home will report its Q1 earnings of 2021 after the close today.

RH (NYSE:RH -- $508.50) operates as a retailer in the home furnishings. RH will report its Q4 earnings of 2020 after the close today.

Shoe Carnival Inc. (NASDAQ:SCVL -- $54.44) operates as a family footwear retailer in the United States. Shoe Carnival will report its Q4 earnings of 2020 after the close today.

Looking ahead to tomorrow, another round of jobless claims will kick things off on Thursday, along with the latest gross domestic product (GDP) reading. All economic dates listed here are tentative and subject to change.

The shares of Snap Inc (NYSE:SNAP) are falling this afternoon, last seen down 4.1% at $55.79. The tech giant recently pulled back from a Feb. 24, all-time high of $73.59, but it still carries an astounding 424% year-over-year lead. Another reason why traders shouldn't look away just yet is that the equity's recent dip has placed shares near a historically bullish trendline, which could help SNAP move back toward its record in the near future.

Digging deeper, Snap stock just came within one standard deviation of its 80-day moving average, after a lengthy period above this trendline. According to data from Schaeffer's Senior Quantitative Analyst Rocky White, at least six similar signals have occurred in the past three years. The security enjoyed a positive return one month later in 60% of those cases, averaging a 6.8% gain for that period. From its current perch, a move of similar magnitude would put SNAP over the $59 mark, closer to its February high.

 A shift in the options pits could keep the wind at the equity's back, too. This is per SNAP's Schaeffer's put/call open interest ratio (SOIR), which sits in the 98th percentile of its annual range. In simpler terms, short-term traders have rarely been more put-biased.  

Plus, SNAP options can be had at a bargain at the moment. The equity's Schaeffer's Volatility Index (SVI) of 55% sits higher than only 16% of all other readings from the past year. This means options players are pricing in lower-than-usual volatility expectations right now.

Finally, Snap stock's Schaeffer's Volatility Scorecard (SVS) sits at an elevated 91 out of 100, indicating the security has exceeded volatility expectations during the past year -- a good thing for options buyers.