Please excuse this late alert.
I just got back from a funeral. They’re always “fun.”
But when the guy lives to 93, it’s easier to deal with.
Shortly after issuing a hedged bet on Lumber Liquidators (LL), we exited half of the put option, holding the underlying stock and the May 37 calls.
While we still hold the stock and the calls, I’m recommending that you exit the second half of the put to secure gains with it. The stock is just beginning to rebound – up $2.30 on the day so far.
I still strongly believe this stock will make a big move north.
As for other positions, we continue to hold everything in this market. In 16 years of trading and investing, I’ve never seen a market do what it’s doing before. For it to swing hundreds of points every other day is wild.
Ian L. Cooper
Forgotten Profits