Couple of small trades this morning, as we continue to actively manage our portfolio to best maximize our upside and minimize our risk. We bought some June $800 Google calls back on January 4, when the stock was at $730 a share. It crossed $800 yesterday and those calls have tripled in price since then. That has made the notional value of my Google position, which is a rough measure of how much exposure I have to that stock, quite big again and I’m going to trim those Google calls back a bit today. Still holding Google and Google calls, but I’m looking at selling at least half of those calls now to lock in those gains.
Meanwhile, our latest stock addition, ZAGG, is down 5% on no real news this morning and I want to buy a second tranche here to continue our usual practice of building up our long positions over time on weakness.
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