Weekly Wiretap Pick Of The Week MCD

MAX Trade Potential: 48%

My Trade Plan Details:

• MCD May 2 $320 calls around $3.50 to $3.70

• Stop: MCD below $306 close

• Target 1: $320
  
• Target 2: $326
  
• Target 3: $330
  

My Reasoning:

Chart wise MCD is forming a nice wedge pattern here with a range to mid $320s and possibly higher if we breakout on earnings. Now, to be CLEAR, I will NOT be holding MCD into earnings which are on Thursday BEFORE the open so I will be out of this trade at the very latest by Wednesday afternoon, win or lose.