A flat open, and I mean flat, as the DJI…
A flat open, and I mean flat, as the DJIA’s so far ranged somewhere between being up zero and one quarter of one percent on the day. In rather non-shocking news, Riverbed and Silver are the biggest movers of the day. No surprise given how volatile they are typically anyway.
Most profitable this morning is our LPS short and the puts we added yesterday, all of which are now nicely profitable after LPS is trading down another 4% already. I do think that stock and that company are “broken” at this point, but let’s be clear that it likely won’t head straight down from here. This stock will likely get to be increasingly volatile as it becomes increasingly targeted. I’m holding both the common short and the new puts steady for now in this name.
