Wednesday, March 18, 2009
CBRL Revenge
I'm not one to stand in front of an oncoming train, but CBRL has come to far to fast! Today it was upgraded by Argus, and its up another 5% this morning.
I am already holding June 17.5 puts at a large loss, but this morning I just couldn't resist and purchased CBRL April 25 puts for $1.00. I decided to buy April, because this stock has rocketed higher recently and I am looking for some weakness NOW!! It has been up 16 of the last 19 days, and during those 19 days has gone from 17 to 28 or 65%. That is WAY to much, WAY to quick for a company like cracker barrel.
This should be an interesting trade, as I am basically just jumping in front of the CBRL train....