Closed my RGR call option position

Given today’s surge in stock price, I closed my RGR call position (my calls are deep-in-the-money and expire two days from now).  I think the stock is fairly valued at these levels (or arguably a little undervalued if you really, really like the CEO).  What I missed originally is that the gun market has mini-cycles because consumer demand has random surges related to panic buying.  I wish I had waited for the shares to trade at depressed prices (e.g. the company is buying back shares and the CEO isn’t selling) before putting on a position.

Over the long term, I think Ruger will do extremely well as long as Michael Fifer is the CEO.  If the stock falls below $40, there is a strong chance that I will have a long position again.

*Disclosure:  No position.
EDIT (4/15/2015): When I first wrote about the stock in Nov 2013, the shares were around $74.   The overall trade worked out ok because I was buying the dip as RGR stock fell below $40.  The current price is around $54.  Because I owned calls, the huge drop in share price was not a big deal.

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