Core Insights - McDonald's Corp reported a revenue miss for the fiscal first quarter, leading to a 1.3% decline in stock price to $315.58, despite beating profit expectations [1] - Same-store sales in the U.S. fell for the second consecutive quarter, marking the largest decline since Covid-19, attributed to adverse weather and consumer caution [1] Financial Performance - Year-to-date, McDonald's stock is up 8.9%, with the $310 level expected to provide support against further pullbacks [2] - The stock has remained below $320 since reaching a record high of $326.32 on March 10 [2] Market Sentiment - Short-term options traders exhibit a bearish sentiment, indicated by a Schaeffer's put/call open interest ratio (SOIR) of 1.41, ranking in the top percentile of the past 12 months [3] - Options trading activity shows a significant bearish lean, with 7,993 puts and 5,917 calls traded, which is double the average intraday volume [4] - The most active options include the weekly 5/2 320-strike call and the 310-strike put, with new positions being opened [4]