I have had a long stock position in $WFM since 12/17/2013 and along the way have utilized Options to protect the gains. I currently have an April 11 Weekly 55/55/51 Collar Put Spread (I am short the $55 Calls & long the $55/$51 Put Spread). Here is how the range looks on the Daily chart:
Any move by price above the $55 level and I am capped until expiration on 04/11. Any move below the $51 level and I get no additional protection for the long stock. This means it is important to maintain price alerts along the way to manage the position properly.