We see no reason to exit our positions in Red Robin (RRGB) or Noodles & Company (NLDS). Both may be down. But given patience they should come back very nicely. Both stocks are massively oversold and ready to reverse off these lows.
With NDLS, MACD and RSI are literally on the floor.
With RRGB, MACD and RSI are on the floor, as well, as the stock consolidates just under $53.
We have plenty of time remaining on these calls. Hold.
As for our position in Enerplus (ERF), we were up as much as 35% on Friday, as the calls hit $1.55. Today, though, we’re right back to breakeven. We bought as the underlying stock traded at $22. It raced to just under $23 shortly after.
As for gains…
Sell to close the Staples (SPLS) September 2014 12 calls for gains of up to 75%…
Sell to close the Lumber Liquidators (LL) November 2014 60 calls, too, for gains of up to 23%… The underlying stock is up $3.20 today alone.
Just exit these two for gains…
Hold all other open positions.