When the market enters a corrective phase, it’s as if the bears have injected a virus into the financial system that weakens the majority of stocks. While the initial phases may isolate the selling sickness to a few of the more vulnerable sectors, the virus inevitably moves into the broader market, afflicting even the best of companies. In time, even some of the strongest stocks succumb to the relentless advance.

Yet it seems there are always a handful of stocks that remain impervious to sell-offs. Whether it’s because they’re a safe haven or because the market gods have granted them immunity, these stalwarts tend to lead the market higher when the correction culminates and the next bull leg commences.

Whole Foods Market Inc. (NYSE:WFM) is one such stock.

WFM has weathered the recent tumult quite nicely. After gapping higher in response to its early May earnings announcement, the supermarket chain has digested its gains in an orderly, low-volume pullback. With the path of least resistance still higher, this post-earnings dip appears an alluring entry point for bullish positions.

A higher-probability play worth considering is the bull put spread. 
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The position is structured by selling to open a higher strike put and buying to open a lower strike put in the same expiration month. It’s entered at a net credit that represents the maximum reward and will be captured as long as the stock sits above the higher strike price at expiration. The max risk is limited to the distance between the strike prices minus the net credit.

Currently, the June 82.50-77.50 put spread can be sold for around $.70. With the max reward capped at $70, the max risk comes out to $430. Consider it a bet that WFM fails to fall beneath $82.50 by the June expiration.

At the time of this writing, Tyler Craig had no positions on WFM.