Sure JACK was severely undervalued as little as three weeks ago. And I called this to everybody's attention. Hopefully some of you followed my advice, generally stated as that old Wall Street saw: "Value will out!" So what do you think of these facts? In the last 12 market sessions this stock has not had a down day and is up a spectacular 12%. Daily trading volume has averaged 655,000 shares over this period for a total 7.87 million shares traded. Tomorrow they announce 1st quarter results. The way the stock has behaved I cannot imagine a disappointment. Too much is known about these public companies and very little is hidden after this long a period for JACK beyond their January 17 end of quarter date. Big J in L.A.
John: Congratulations. I was at a seminar last weekend and the instructor mentioned that his only positive reason for driving to St. Louis (from Chicago) was that there was a Jack in the Box nearby (in Alton IL?) Apparently he likes their Tacos, although they always seem to be out of them when he drives by.
I didn't ask him if he's ever tried Quboba's tacos.
Edison, good to hear from you after some time. Yes, I can fially take a victory lap after Jack's huge move up. Selling the puts for a net cost of 18., then rolling them out to the 25s for what will be a 39% gain, is satisfying indeed. The group looks fully valued at these levels but it was sure worth sticking to my guns in the case of JACK. John
P.S. You must try Qdoba for their entire range of offerings. Quite superb, as good as or better than Chipotle fare.
Typical for Jack to hit an air pocket after announcements, usually a good time to buy since it almost always retraces. (Generally a good idea to take profits before or wait until after an announcement to buy...)