I agree with u on that.First point to note is how much upside really left in the stock.This company 's fast growing days are all but matter of past.Any one seeing heady growth of bubble years for cisco in future? Analogy is apt.Market pays for future and in future we might see a growth of 25% at best which would be explosive growth by all means but alas the market is already pricing it in for a growth of 40 or beyond.It might be a great company but it's not a good stock any more.Learn to see the difference.
Sorry to be 6 months late in the reply, but your post is one of the sanest I've read. Personally, I like Starbucks coffee, and it does seem that there are usually a fair number of customers "around" (I don't know how much they actually spend). That said, I own Puts simply because I think the stock price is overvalued. Any missteps or change of investor perceptions could cause the Street to rather quickly revalue the stock downward. Conversely, it's hard to envision a surprise that will propel the stock further to the upside.