I sold some October 100 puts I had on Simon Property Group.
Was in at an average of 11.50 and sold for an average of 24.50.
The stock was over $100 a share when I bought them (I think). Option decay killed me; bought em back in April.
I am still short SPG directly; and indirectly through SRS.
Haven't done really anything else to speak of except dumping my long-term Google position (at $448); which I'll look to re-establish after 30 days.
The short selling ban is set to expire tonight at midnight. I'd be shocked if they didn't extend it.
Stocks I may be looking at whacking in the near future include PNC Financial and SunTrust Bank.
2 comments:
How did you pick those two? And are you afraid about getting locked in to a short and not being able to cover and get back in later when considering shorting initially?
Picked them because they've bounced too hard. I don't believe, make that I KNOW, that no banks are insulated - none deserve a premium.
Their share prices mirror those of Wells Fargo - which I am obviously very short.
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