https://preview.redd.it/r3miq6xpckhe1.jpg?width=1179&format=pjpg&auto=webp&s=2f48e0d873d1e6daabb53b182f06c964fe17a4b5
Thesis: bounced off 5 year lows with its earnings today. Had a double beat and a revenue CRUSH of over 30%. I think a reversal is in play and it could move up quickly.
Hershey had a buyout offer in December for a 40% premium on the stock price and it was rejected as the Hershey board said it was too low of an offer.
This is a great dividend stock as well and I suspect a market rotation into these safer stocks by the big money might take place in the near future with the volatility.
IV is so low on this stock that any kind of movement will be a huge print on short dated calls. The spread is so wide on these I went like 30-40% of the ask and a lot of them got filled.
Stocks like this go overlooked until an earnings beat of this magnitude and then has a chance to rebound quickly.