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April 23rd, 2014 at 9:36 am
Phil – What to do about CREE? My worst position is CREE. I was assigned on some short puts and now have 200 x CREE @ 70 now 53.20 after so so earnings
-2 Jan15 62.5C @ 8.4 now 3.00.
I'm not sure if I believe in the stock, it was a trade I ignored gone bad. I'd like to get out even if possible. GS is saying that this price move is a buying opportunity. I've lowered my cost basis down to 64.6 by selling the calls. I'm guessing just to roll down the calls and sell more juice?
http://finance.yahoo.com/news/cree-weakness-buying-opportunity-says-110519854.html