Buy LGF via selling Jul 12 puts LGF@13.3
Lions Gate Entertainment earnings and conference call move the stock. The initial response to earnings is a plunge in after-hours trade. After the morning conference call, buyers step in and continue to support the stock. This trade adds a second layer of short puts, was already short Jun 13 puts.
My SPY position is now slightly delta negative, so I am net short. I placed an order to sell a strangle on MT ArcelorMittal, a big French steel company but did not get filled at the mid point.
Long BRKB, GNC, LGF
Net long IWM
Net short SPY
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