McDonald's Corp. (NYSE: MCD) shares are rising this morning after the fast-food giant reported that same-store sales rose 5.7% in January, driven by strong international growth. This could be a good sign for MCD, as it indicates strong sales growth at existing stores despite the current economic slowdown. If you think that the company won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on MCD.

After hitting a one-year low of $42.31 in March, the stock hit a one-year high of $63.69 in December. MCD opened this morning at $54.90. So far today the stock has hit a low of $54.81 and a high of $55.99. As of 10:20, MCD is trading at $55.86, up 1.40 (2.6%). The chart for MCD looks bearish and steady, while S&P gives the stock its highest 5 STARS (out of 5) strong buy rating.

For a bullish hedged play on this stock, I would consider a March bull-put credit spread below the $47.50 range. A bull-put credit spread is an options position that combines the purchase and sale of put options to hedge risk in case the stock doesn't do what you think but still leverage nice returns. For this particular trade, we will make a 4.2% return in just six weeks as long as MCD is above $47.50 at March expiration. McDonald's would have to fall by more than 15% before we would start to lose money. Learn more about this type of trade here.

MCD hasn't been below $47.50 since August and has shown support around $49 recently. This trade could be risky if the US economy continues to soften, but even if that happens, this position could be protected by the support the stock might find around $47.50, where it bottomed in the late summer.

Brent Archer is an options analyst and writer at Investors Observer.

DISCLOSURE: Mr. Archer owns and/or controls diversified portfolios of long and short stock and option positions that may include holdings in companies he writes about. At publication time, Brent controls a bullish hedged position in MCD.