Just about the only short I’ve got moving down in a meaningful way is Wendy’s (WEN), against which I already own January 2026 $20 puts. This is a diamond pattern, and it’s slipping nicely. It’s off almost 3% today, which on a day like this is almost like a crash. Take note that I’ve got until next year on these suckers.
It’s important to recognize just how much these fast-food chains can persistently drop, as JACK nicely illustrations.
