Nothing gets the instructors at the Options Institute more excited than national holidays. Today’s event is National Fried Chicken Day which has us collectively getting together to determine how investors and traders can use the option market to trade America’s second favorite fried food.

Peter Lusk suggested we take a look at Yum Brands (YUM) which owns his favorite fast food outlet Kentucky Fried Chicken or just KFC for the kids. Peter is often seen on the weekend heading home on his mountain bike with a bucket of KFC for the family. Today someone also was a bit bullish on YUM and sold about 100 YUM Jul 15th 77.50 Puts for 0.37 to 0.39 when the stock was trading between 83.85 and 83.90. They either expect the stock to stay above 77.50 or are looking to buy the stock on sale, much like Peter loading up on KFC with a 2 for 1 coupon.

Roma Colwell-Steinke is like a mom to the rest of us at the Options Institute and like only a mom could do Roma suggested Chicken Soup for her trade. Specifically, a trade on Campbell Soup Company (CPB). Roma suggests chicken soup when you have a cold and apparently someone thinks CPB is going to come under pressure as well as there was a buyer of an out of the money put spread in CPB options today. With the stock at 67.32 there was a buyer of the CPB Aug 19th 65 Puts for 1.28 who then sold the CPB Aug 19th 60 Puts for 0.34 and a net cost 0.94. If CPB does catch cold and is below 60.00 at August expiration this trader will be feeling anything but sick since they will have a profit of 4.06.

Finally, Kevin Davitt is nothing short of a grill master and he loves to put some chicken parts from Tyson Foods (TSN) on the grill. I know this isn’t the fried version of chicken, but it’s close enough for our purposes. When TSN was trading at 67.91 there was a trader who came in with a very short term bullish trade. Using the July 8th options someone sold the TSN Jul 8th 67.00 Puts for 0.32 and then purchased the TSN Jul 8th 65.50 for 0.12 and a net credit of 0.20. As long as TSN finishes the week over 67.00 the trader gets to pocket a profit of 0.20 per spread.

So there are three markets to trade in honor of National Fried Chicken Day. We hope to report back soon on other ways to play your favorite obscure holiday.