I
had the “brilliant” idea to rebalance my IWM position back to
delta positive by selling puts. I placed an order to sell IWM Dec 72 puts before the open and got filled shortly after the market open. Ouch.
The bad
news is some red ink on my positions, the good news is my huge cash
position. LGF also has been going down, so those positions are taking
on water as well.
I'd
like to say that the stock market reaction is over done, but the
other side of the argument is that the market is always right, don't
argue with it.
Long
BRKB, LGF
Net
long IWM
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