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Domino's Pizza (DPZ) announced strong Q2 results this morning, showing free cash flow FCF up over 31% YoY with a high FCF margin. DPZ stock is undervalued here, worth over 21% more, or $566.00 per share. Shorting OTM puts is a way to buy in cheaply.
DPZ is lower at $464.76 in midday trading. That is well off its high point of $497.52 on May 19.