Time to add another small tranche to my recent QQQ put position that is to work as a hedge. Nothing big, just another round about the same size as my last purchase of puts with September expirations and $110 strike price.
Likewise, I’m going to trim a little, maybe 10-15% of each of the following positions:
$FB – My single largest position already and I’d added to this one during the Brexit panic, getting another tranche near $110/share and I’m going to sell those shares today.
$GOOG – It’s been on a big run of late and I want to just lock in some profits on this, my second largest position.
$SNE – 30% move in the last month and now up double from our initial buy tranches, time to lock in some profits.
$NVDA – This stock has been on such a tear of late and discipline dictates that I trim a little bit of this one too.
I’m still bullish, net long and am not changing my overall stance here today. Just doing some prudent profit taking and hedging while we can so we can be flexible with our next moves when the time comes.