I have liked CrackerBarrel since October and made some good money on the run up. Today I added February 130/125 1x2 Put Spreads for a 20c credit to to possibly start a position. My thinking: It is at a 23.6% retracement, if it holds here and reverses then keep the credit. If retraces 38.2% then I am at max pay out and into the stop with a 120 basis., 50%...
What a beautiful move. The volume is great and those last for candles are strong, but looks extended to me and I'd expect some consolidation in the coming weeks.