Trade Alert: Portfolio rebalancing and more on the big QCOM win

A few more trades to update you on.

I trimmed a little bit of AAPL.

I am selling most of my EA for a loss. Mea culpa.

I covered some of my GLUU short.

I  nibbled some more JD.

I nibbled some SPLK.

I nibbled some ZEN.

I’m covering some of our IBB short, about half.

Also, here’s more on the Qualcomm trade strategy:

Q. Cody, I have huge gains in QCOM options thanks to you, However, it has left me in the position where if I trim “a little” and allow the rest to convert to common at expiration tomorrow, I will have way too much QCOM common (and frankly not enough cash to pay for the conversion to common. I am not accustomed to being in this position, so I calculated the size of the common position I would like to keep, kept those options, and sold the rest. Correct? And of course this only relates to the options expiring tomorrow. We also have some options dated int0 2020. What are you doing with those?

A. I’d probably suggest trimming even a few more of the call options that expire tomorrow. Maybe trim a few of the 2020s too. I do think there’s more upside in QCOM but it won’t be a straight line and certainly no guarantee. Manage your position according to what is reasonable, not according to how big it’s become. Congrats by the way.

Careful out there, as always, folks. Peace, love and happiness.