Back in April I wrote a Trade of the Day article on Bloomin’ Brands (Nasdaq: BLMN) titled This $25 Dinner Made Us Thousands!

Here’s a recap of what I said…

A week ago, my wife was craving chicken tenders from Outback Steakhouse. Let me tell you, I am not a fan! And, to add heartburn insult to injury, she also wanted Outback’s patented blooming onion!

So we went online, and, lo and behold, she already had an account set up. It was a breeze placing the order, leaving the tip and getting a text confirmation on when the meal would be ready to be picked up. Just had to leave the model and color of the car and it was all ready to go. They would bring the food to the car and it would be “touchless” service. Perfect.

When I got to the plaza, I noticed a line of cars stretching about 20 cars deep. I thought there was an accident. Nope. It was the line at Outback!

When I got home, I decided to do some research on Bloomin’ Brands (BLMN), which owns Outback, Carrabbas, Bonefish Grill and a couple of other names. The next couple of days I went back and asked the servers at a couple of its locations about how business was doing.

The shares were around $9 when I first told War Room members about the company. They got in at around $9 and sold a few days later.

Take a look at what a couple of members said…

“I may have jumped the gun and left some on the table ( as per usual ) but I exited my BLMN Jul17 12.50$ calls. I also got in a day after the rec for cheaper 🙂 … in at $0.87 out at $1.25 for about +43%.” – David D. 4/27/2020 at 11:31 a.m.

“In for $9.21 (calls sold for 1.00). Out for $11.26, calls BTO 1.50. Net 31% profit. Nice one Karim.” – Chris W. 4/28/2020 at 9:56 a.m.

But members didn’t let go of the position. In fact, the second time around, they entered a longer-term spread to reduce cost and increase upside.

Now Bloomin’ Brands is close to $14, and that spread is starting to trade higher, much higher. In the coming days, members will try to exit the position at an optimal level. And if that doesn’t happen soon, that’s OK too!

You see, I applied three War Room strategies for this play…

1. The first was to buy based on insider cluster buying. This is a strong buy signal based on a group of insiders buying their own shares in the open market.
2. Members used LEAPS. LEAPS are long-term options which reduce our outlay but also give us more than a year in time for the play to work out.
3. They used a spread to reduce their cost in the trade.

Action Plan: In The War Room, we know there are many ways to play an opportunity. Bloomin’ Brands is blooming with profits!

We want you to experience the same type of success, find out how by joining me in The War Room now!

P.S. You asked… and we listened. Get ready for our new service, Trade of the Day Plus, where you’ll receive one trading pick a week straight to your inbox! You’ll be sent our top picks, and we’ll update you each week and monitor the position throughout the entire holding time! Be on the lookout for our new service coming this September!