McDonald's Corp (MCD) has been on my watch list for a while because of its relative strength versus the major indices and other stocks within the consumer discretionary sector. MCD reported better than expected EPS results in October.
The goal is to sell at least 2 contracts of the November 50 Puts for the minimal account with a $1.00 target. As the chart below shows there is support at $51.80 per share. We should cover the puts if MCD break below this level.