On the negative side of the ledger here, we do not like this security at an 18x+ multiple. Further, over the past year, we are concerned with this security's substantial outperformance versus the S&P500. However, what we do like is this: low debt, consumer staple. From a purely trading perspective, a buy of the common ($43.08)(1/4 position to open) with a stop loss of $42.50 with one $40 May 17 put contract (active monthly intrinsic hedge) per 100 lot ($0.25), net basis $43