We propped the Starbucks (SBUX, quote) earnings trade earlier today. 

Image courtesy Jared Tarbell: http://www.everystockphoto.com/photographer.php?photographer_id=19017

I have also discussed the long Starbucks short Dunkin (DNKN, quote) trade on CNBC Fastmoney. 

Here is the spread between the two where you can see even with a DNKN pullback, the stock remains a good hedge for a long Starbucks trade or part of a pair.

 

 

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