TSN/Batman - I agree they're getting undervalued after flat-lining for a year. Earnings are growing and, as you note, the Financial are improving. TSN just guided to $3.35 at a conference last month so that's a PE of less than 12 if things go their way (next earnings 4/5), so no reason not to take a poke.
I'd go a bit more conservative than what you suggest and sell the 2017 $33 puts for $3.30 and then pick up the $35/45 bull call spread for $4 for net 0.70 on the $10 spread that's $3.50 in the money to start. That gives you +10% downside protection for free with a net $33.70 entry as your worst case.
