Shares of Domino's Pizza Inc (NASDAQ:DPZ) are higher today, last seen up 6.7% at $410.28, brushing off an earnings miss after the restaurant chain posted strong same-store sales growth and new restaurant openings. The pizza chain also reported fourth-quarter revenue of $1.54 billion -- 6.4% higher compared to a year ago -- which surpassed the $1.52 consensus.
Today's boost is long overdue, considering DPZ fell to its lowest level since November 2023 on Tuesday, Feb. 17. Should today's gains hold, DPZ will mark its third win in the past four sessions. Over the past nine-months, however, shares have shed 17%.
What's more, Domino's sports a 14-day Relative Strength Index (RSI) of 25.5, deep within "oversold" territory. In simpler terms, this suggests a short-term bounce may have already been in the cards.
DPZ's Schaeffer's put/call open interest ratio (SOIR) of 2.08 sits in the 76th percentile of its annual range, suggesting short-term option players have been more put-heavy during the past 12 months.
So far, over 870 calls and 770 puts have changed hands, which is six times the average intraday amount. Seeing the most attention are the March 380 put and 390 call, with new positions being opened at the latter.
