We continue to hold the Enerplus (ERF) January 22 calls.
Days after issuing that buy, the position was up as much as 35%. While we heard some of you banked that gain, we held. We continue to hold today, despite the down move on dividend suspension news. We still have four months remaining on this position. The stock remains wildly oversold now.
We’re holding all other positions, too, including the Red Robin (RRGB) December 60 calls now showing a gain of about 30%. The underlying stock came back as hoped off massively oversold conditions.
We also hold the McDonald’s (MCD) December 95 and January 95 calls, which have come back beautifully. We’re showing gains of 15% and 16%, respectively.
We’ll have more updates and recommendations to you shortly.
Earlier this week, we issued new buys on the Cree December 42.50 calls (already showing a gain of about 30% from a $2.50 entry), Owens Corning January 34 calls (breakeven), Vale December 12 calls (at a loss), and the McDermott International January 6 calls (breakeven).