Best Options Strategy for BLMN
Looking for the best options strategy for Bloomin' Brands, Inc. (BLMN)? There is no single answer — the right play depends on your outlook, your risk tolerance and current implied volatility. Below, our free engine shows the highest-scoring defined-risk strategy on the live BLMN option chain right now, and a simple map from your view on BLMN to the strategy that fits it. Model any of them in the calculator before you trade.
About BLMN
Bloomin' Brands, Inc. (BLMN) is a major company in Restaurants. Options traders on BLMN tend to watch , since these can drive large moves in the share price.
About Bloomin' Brands, Inc.
Bloomin' Brands operates a portfolio of four casual to fine dining restaurant concepts across the United States and internationally. The company runs Outback Steakhouse, its casual steakhouse brand; Carrabba's Italian Grill, which serves Italian fare; Bonefish Grill; and Fleming's Prime Steakhouse & Wine Bar, a more upscale steakhouse offering. Founded in 1988 and headquartered in Tampa, Florida, the company has built its business around these distinct dining experiences that appeal to different customer segments and occasions.
The company generates revenue through both company-operated locations and franchise arrangements, split between its U.S. and International segments. This dual structure allows Bloomin' Brands to expand its footprint while managing operational complexity. The steakhouse-focused brands form the core of its business, with Outback serving as the largest and most widely distributed concept, while Fleming's targets diners seeking premium experiences. The revenue model relies on food and beverage sales at individual restaurants, supplemented by franchise fees and royalties from franchisees operating locations under its brand names.
Today's top-scoring strategy for BLMN
Our engine ranks defined-risk strategies on the live BLMN chain by probability of profit and risk/reward, then surfaces the best-scoring one. It is an educational illustration, not advice.
| Action | Qty | Type | Strike | Premium |
|---|---|---|---|---|
| Buy | 1× | PUT | $5 | $0.15 |
| Sell | 1× | PUT | $10 | $0.45 |
| Sell | 1× | CALL | $10 | $1.18 |
| Buy | 1× | CALL | $15 | $0.10 |
Simulation
Forward simulation of 6,000 lognormal price paths to expiration — not a historical backtest.
Strategy analysis
Greeks vs price
Price × volatility (today)
| −30% | −15% | IV | +15% | +30% | |
|---|---|---|---|---|---|
| $13 | −$157 | −$152 | −$148 | −$147 | −$147 |
| $13 | −$114 | −$115 | −$117 | −$120 | −$124 |
| $12 | −$72 | −$78 | −$86 | −$94 | −$102 |
| $11 | −$32 | −$44 | −$57 | −$70 | −$83 |
| $11 | $1 | −$16 | −$34 | −$51 | −$67 |
| $10 | $24 | $3 | −$18 | −$38 | −$56 |
| $10 | $32 | $10 | −$11 | −$32 | −$52 |
| $9 | $24 | $4 | −$16 | −$35 | −$55 |
| $9 | $1 | −$15 | −$31 | −$49 | −$66 |
| $8 | −$36 | −$46 | −$58 | −$71 | −$85 |
| $8 | −$82 | −$87 | −$94 | −$103 | −$113 |
Live scan from 2026-08-14 · quotes delayed ~15 minutes
Historical backtest: how a Iron Butterfly on BLMN would have performed
We approximated a Iron Butterfly on BLMN, entered repeatedly over the past year (92 historical entries, each held to expiration) with Black-Scholes-modelled entry premiums. Here is how that would have played out on real BLMN price history — an educational backtest, not a prediction of future returns.
Approximate: entry premiums are modelled with Black-Scholes from trailing realised volatility, held to expiration and settled against the real historical close. Real fills, implied volatility and slippage differ — treat it as directional context, not exact returns.
Implied volatility
BLMN is currently trading with high implied volatility, which makes its options expensive — and attractive to sell. On the options we scanned that was around 62% implied volatility, and higher implied volatility means richer premiums and wider expected moves.
Options on BLMN currently price in about 62% implied volatility, versus roughly 99% the stock has actually realised over the past month. That makes options relatively cheap — an edge for strategies that buy premium, such as long calls, long puts and debit spreads.
BLMN's IV Rank is 5/100: implied volatility sits 5% of the way between its 14-day low (59%) and high (117%), and is above 20% of recorded days. Premium is historically cheap, which favours net-debit strategies like long options and debit spreads.
Off that volatility, the options market is pricing a move of about ±$1.97 (±19%) in BLMN by 2026-09-18 — a range of roughly $8.48 to $12.42. Strikes inside that band hold most of the premium and see most of the action.
BLMN options chain highlights: open interest, volume and skew
The live BLMN options chain shows a put/call open-interest ratio of 1.97 (bearish-leaning (more puts)), with at-the-money implied volatility near 61.9%. Open interest clusters at the $15 call — a common resistance "wall" — and the $10 put, a support "wall": the strikes option writers are most exposed to into expiration.
Snapshot of open interest, volume and implied volatility for the nearest scanned expiration — context, not a trading signal.
BLMN insider trading activity (SEC Form 4)
Open-market insider transactions at BLMN over roughly the last six months, from SEC Form 4 filings. Open-market buys are the rarer, more telling signal — routine selling under pre-arranged plans is common, so read a net-selling figure with that in mind.
| Insider | Action | Shares | Value | Date |
|---|---|---|---|---|
| Lal Rohit | Buy | 10,000 | $57K | 2026-03-11 |
| Kunkel Julie T. | Buy | 1,000 | $6K | 2026-03-05 |
Source: SEC Form 4 filings via Finnhub. Open-market purchases (P) and sales (S) only — grants, option exercises, gifts and tax withholding are excluded. Informational context, not investment advice.
Liquidity and tradeability
BLMN options are thinly traded, with wide bid-ask spreads around 34.5% near the money that eat into any edge — favour simple single-leg or tight defined-risk trades, and always use limit orders.
Earnings & IV crush
BLMN's next earnings report is due around November 5, 2026. Options that expire after it price in a binary move, so their implied volatility is elevated and usually collapses right after the announcement — an "IV crush". If your expiration falls before this date, the trade sidesteps the event.
Dividend and assignment risk
BLMN pays a dividend of about 6.9% a year, so short or covered calls on it carry early-assignment risk around each ex-dividend date — in-the-money calls are most exposed just before the stock goes ex-dividend.
Key figures
- Market cap
- $1.0B
- Beta (vs market)
- 1.20
- 52-week range
- $5.19–$12.63 (71% up the range)
- Short interest
- 11.1% of float · 3.6 days to cover
With 11.1% of BLMN's float sold short, squeeze and gap risk are elevated — one reason its options can stay expensive.
Other strong setups for BLMN
If your view on BLMN differs, these also scored well in the latest scan:
How to choose an options strategy for BLMN
Start with your outlook on BLMN, then match it to a defined-risk structure. Here are the most common choices and when each makes sense:
Bullish
Buy a call for leverage with capped risk, or a bull call spread to lower the cost and breakeven when you have a target price.
Long Call → Bull Call Spread →Bearish
Buy a put to profit from a decline with defined risk, or a bear put spread to cheapen the trade when you expect a measured move down.
Long Put → Bear Put Spread →Neutral
Sell an iron condor to collect premium while BLMN stays between two strikes, or write a covered call against shares you already own.
Iron Condor → Covered Call →⧉ Embed this free calculator on your site →
How we pick the best strategy
For each ticker we pull the live option chain, build every supported strategy around the at-the-money strikes, and score them on probability of profit, risk/reward and capital efficiency — favouring defined-risk structures where the maximum loss is known up front. Methodology →
Open BLMN in the free calculator →
Frequently asked questions
What is the best options strategy for BLMN?
It depends on your outlook. Bullish traders often use a long call or bull call spread on BLMN; bearish traders a long put or bear put spread; neutral traders an iron condor or covered call. Our live scan above shows the current highest-scoring defined-risk play.
Are BLMN options liquid enough to trade?
Bloomin' Brands, Inc. (BLMN) is among the most actively-traded US options, which usually means tight bid/ask spreads and plenty of strikes and expirations — though you should always check the open interest and spread on the exact contract.
How much money do I need to trade BLMN options?
Buying a single BLMN call or put can cost as little as the premium (often one to a few hundred dollars), while income strategies like a cash-secured put need enough capital to buy 100 shares if assigned.
Is this financial advice?
No. Everything here is educational and uses delayed, third-party data. It is not a recommendation to trade BLMN or any security. Do your own research.
What does Bloomin' Brands, Inc. do?
Bloomin' Brands, Inc. (BLMN) operates in the Restaurants industry. The "About Bloomin' Brands, Inc." section above gives a fuller picture of what the company does and how it earns money.
Does Bloomin' Brands, Inc. pay a dividend?
Yes — Bloomin' Brands, Inc. currently pays a dividend yielding about 6.9%. If you hold the shares (for example to write a covered call), the ex-dividend date can trigger early assignment, so check it beforehand.
When does Bloomin' Brands, Inc. next report earnings?
Bloomin' Brands, Inc.'s next earnings are expected around November 5, 2026. Implied volatility usually climbs into the report and drops sharply afterwards (IV crush) — important for any options position held over the date.
Price trend
Tickers related to BLMN
Comparing BLMN with similar names can help you choose the best options strategy:
Company information
- Headquarters
- 2202 North West Shore Boulevard, Suite 500, Tampa, FL, 33607, United States
- Industry
- Restaurants
- Employees
- 64,000
- CEO
- Mr. Michael Spanos
- Phone
- 813 282 1225
- Website
- www.bloominbrands.com
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Educational use only. Quotes are delayed ~15 minutes and nothing here is financial advice. Options trading involves substantial risk of loss. Privacy · Terms.