Tuesday, February 24, 2009
CBRL - Bad call
Cracker Barrel reported and guided in line this morning, and its stock is currently up 10% in pre market. Not good for my puts. However, I still feel pretty comfortable with this position. The stock should open around 20 and there there is some decent resistance around 22 which i think it will have trouble getting above. I'm going to listen to the conference call at 11 to determine what to do with this position, if anything.
I own June puts, so I think there is still time for this stock to tank....