Post-earnings jump in El Pollo Loco draws call buyer. Shares of the restaurant operator up more than $2, or nearly 24%, this morning to $10.65 following better-than-expected results and an upgrade, with calls leading puts 30:1 and upside May 10 and 11 strikes leading the flow. Largest block is an opening buyer of 1900 May 11 calls for 40c early in the session with shares near 10.88, followed by May 10 calls bought nearly 1200x for 65c with shares 10.66. Heading into earnings the straddle was priced near $1, suggesting traders expected a move near 12%.
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