Dan Nathan spoke on CNBC's Options Action about McDonald's Corporation MCD. The company is going to report earnings on Friday and the options market is implying a 2.8 percent move in either direction on the event. The stock moved 3.5 percent on average over the last four quarters.
Nathan added that McDonald's is trading at a critical support level and he thinks that the company might guide down due to strong U.S. dollar. If the stock trades to $104 on a weak guidance, Nathan would be a buyer, because he sees that price level as a good entry point.
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