Weekly Wiretap Pick Of The Week MCD

MAX Trade Potential: 581%

My Trade Plan Details:

• MCD March 7th $307.50 calls around $2 to $2.20 area

• Stop: MCD closes below $295s

• Target 1: $311s
  
• Target 2: $315s
  
  

My Reasoning:

To me this is one of those recession proof stocks, not saying we are headed into a recession by the way. Busy families love to eat out and MCD is an all time favorite over the years. Not to mention this is one of the better dividend stocks if I recall and that also helps to keep those long term investors in the trade. 

What really caught my attention though was how well this trade held up after a brutal week for markets.

MCD daily is showing the strength of the stock as we trade up near the top end of this flag pattern. I really like MCD as long as we can hold low $290s and I will be looking for an early market rally with MCD potentially pushing $311s to $315s.