Domino's Pizza Inc (NASDAQ:DPZ) stock is brushing off a Q2 earnings miss thanks to better-than-expected revenue and encouraging growth comments from the CEO. Weak demand was overlooked as the pizza giant's supply chain business remained healthy. At last check, DPZ was up 6.5% at $343.00.
Today's pop is pushing the shares further from a June 23, six-year low of $282. Though DPZ just broke above pressure at the 80-day moving average, the 120-day trendline appears to be keeping a cap on gains. Year to date, the equity is down roughly 18%.
Short sellers were retreating ahead of the report. Over the past two weeks short interest has pulled back 15%, though it still accounts for 11% of the stock's available float.
Domino's stock has been seeing more bearish options attention than usual. This is per the 10-day put/call volume ratio of 1.02 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks in the 84th annual percentile of its annual range.
