With the stock down 4.4% on the day at $45.25, I think we've squeezed as much fun out of this trade as we can.
The stock obliged us with a 24% decline in 15 days.
The January 55 puts tripled and there is probably more risk than reward in holding on any longer. If you have the Feb. 50's you're on your own.
Here's the recap:
Molycorp: Sometimes You Get Lucky (MCP)
UPDATED-Rare Earth: "Molycorp Looks Like One Of The Greatest Private Equity Deals Ever" (MCP)
And Today's Market Moving Rare Earth News Is... (MCP; REE; AVL)
Rare Earth Stocks: What to Look For Next Week (MCP; AVL; REE)
UPDATED: Rare Earth Mania: What the Heck is Molycorp Worth? (MCP; SHZ; REE; AVL)
Crapsky! I Forgot to Include the Punchline to"Today's Rare Earth Winner: China Shen Zhou Mining & Resources Inc. (SHZ) UP 15%..."
Rare Earth Mania: The Coming Opportunity for Buyers of Molycorp Puts (MCP)
With the Stock Up Four-fold Look For Molycorp to Sell More Shares (MCP)
UPDATED:Pre-Market: Molycorp up 7.5% on Wild Ass Speculation (MCP)