BELFB - Since that post, I've sold 10 April $30 puts ($0.85 avg), 5 April $40 calls ($0.90 avg.) and 15 Sep $45 calls ($2.50 avg.). I like their long-term opportunities and see a lot of similarities to PLPC, but there are certain aspects to BELFB's business I like better (lower capex and working capital requirements, higher margin opportunities). I think the new management has done a great job of consolidating operations allowing for higher operating margins, and thus improved cash flow.
Valued at ~7x EBIT, I think shares are roughly 30% undervalued, with a 9x EBIT multiple closer to market for this business. So personally, I'm not surprised to see the stock recover. I'll look to sell some more $45 / $50 calls on further strength to cover a greater % of my position.
Speaking of PLPC, I lightened my position further today over $124.