27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Family restaurant chain Denny's Corp (NASDAQ:DENN) announced Monday it will offer plant-based burger options made by Beyond Meat Inc (NASDAQ:BYND) at more than 1,700 stores.
What Happened
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Denny's said in a press release it's the first restaurant chain in the family dining category to offer a plant-based protein option to its menu. Denny's said the option is to better address the growing demand for a "flexitarian diet."
The plant-based option is called the Denny's Beyond Burger and includes a 100% plant-based Beyond Burger patty. The Beyond Meat patty is meant to duplicate the look and taste of a beef burger but with more protein, less saturated fat and no cholesterol. It's also made with no soy, gluten or GMOs.
Why It's Important
Denny's Chief Brand Officer John Dillon said the decision to offer Beyond Meat products was based on a positive trial in Los Angeles last year. The new addition is a permanent fixture on the menu and will address "evolving dietary preferences."
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"Partnering with Denny's has been a big step in increasing offerings for those looking to introduce plant-based protein into their diets or for alternative choices at their favorite restaurants," said Tim Smith, Beyond Meat's VP of North America Sales, Foodservice. "We're delighted to expand our partnership with the iconic diner and provide another option that offers the taste you know and love with a burger but has the nutritional and environmental benefits of plant-based protein."
Denny's will offer guests a free Beyond Burger with the purchase of any beverage at all participating locations on Thursday from 11:00 a.m. to 10:00 p.m.
Beyond Meat's stock traded higher by 6.4% to $127.21 per share at time of publication.
Related Links:
Panera, Ruby Tuesday's Offer More Plant-Based Meat And Food Products
Wells Fargo Analyst Says Beyond Meat's Stock Has Downside To $72
Photo credit: Mike Mozart, Flickr
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.