Sell LGF Sep 13 puts LGF@13.3
I rebalance to about neutral on Lions Gate by selling September puts. My Jun 13 short straddles (short both a put and a call at 13) have turned into a problem, same with my short Jul 13 short straddles. It was a huge mistake to have sold the Jun 13 calls for next to nothing. The percentage loss on that single leg is ridiculous, even if the dollar amounts are small. LGF is into a resistance area, so I'll see if it comes back to 13 before this Friday's expiration.
As I type, the opening pop up in stocks from the Spain news is dissipating, but who knows where the market closes. Gold was up over night, but now is down. TLT opened lower but now is higher, so the bond folks may be looking for more shoes to drop. It would have been nice to time the recent V-shaped-bottom in stocks to perfection, but how many actually did that? Not me, is the most common honest answer.
Long BRKB, GNC
Net long GLD,IWM, SPY
Net neutral LGF
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