From the use cases I see, this is wrong, since constructing a ParserOptions 
object without any parameter will use $wgUser and $wgLang. This will cause the 
result to be user-dependant when executing links update (i.e. regression of  
bug 14404 and maybe others too). I would suggest to use something like:

$wikiPage = WikiPage::factory( $title );

$options = $wikiPage->makeParserOptions( 'canonical' );