Daily Stock Market Equity and Options Trading Commentary

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Tuesday, February 17, 2009

Update to December 31, 2008 Post BWLD Calls

I have been meaning to update my post from December 31, 2008 but haven't had time. Buffalo Wild Wings reported Wednesday February 11, and they trumped earnings sending the price per share up over 40% in just two trading days. The Feb $30 option could have been bought for $10 a contract, which I added to my position the day before they reported. It traded as high as $125 a contract over the next two days. I got out at $105 per contract before any fees. So if you would have had a chance to read my original post on the 31st of December you may have been lucky enough to speculate and get out with some serious profit. I can now do this again before their next earnings and play with the houses money. The short interest on this stock is still very high, and I believe in this market it should only be getting higher for another chance at a massive squeeze.

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