Calls Sold in Wendy's

Shares of Wendy’s Arby’s Group (NYSE: WEN) are trading lower on the session by 1.34% to $5.22. The fast food operator fell yesterday as well and is now sitting near the 50-day moving average. If the stock does not find support here, a move down toward $4.80 (the 200-day moving average) seems imminent.

Wendy’s Arby’s Group is also seeing some long call holders sell their positions; the may $5 call was sold on the bid a short while ago 1,150 times. This pushed call volume in the name to 6x the daily average and represents bearish sentiment around the name.