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Domino's Pizza stock (DPZ) has retreated from its recent highs but still looks attractive to value buyers. Shorting out-of-the-money (OTM) put options is one way to set a lower buy-in price and get paid while waiting.
DPZ is at $455.29 in midday trading on Tuesday, Dec. 10, from its peak of $476.19 on Nov. 29. However, this is up significantly from Oct. 10 ($408.75) when it released strong earnings and free cash flow (FCF) for Q3.