I sell CYPB Cypress Bioscience for a loss (sell stock, buy back the June 17.5 call).
News is a secondary offering of 4.7 million shares at 15.5. Yuck. The stock may recover, but cutting losses is my style. When I think it is time to bend the rule, that is often the worst time to do so. This is big percentage hit for such a short holding period, but knowing that this is a speculative stock the position size is small.
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