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