I’ve blathered on endlessly in past months about what a beautiful “waterfall” tumble Cracker Barrel is performing, but I never did anything about it. Well, today I did. For the first time, I bought puts on CBRL. They announced earnings pre-market, and it had a big bounce, so I figured this was a good time to get in.
The longer-term view shows the potential. I have deliberately bought puts that don’t expire until 2026 (!!!) to give this thing gobs of time to sink. Remember my thesis: being poor in 2025 is going to suck, so places that cater to the lower classes are going to suffer. Those biscuits and gravy aren’t going to sell themselves, ya know.
