In the morning, I had contemplated going long some Motorola (MOT) into its earnings release after market close, but it kept running higher. So, I was scared off of it.
Instead, as the market approached closing, I put in an order to short Synaptics (SYNA) going into its earnings release. I was so caught up with stuff here at work, I didn't even realize my order had been filled. For now, I'm glad it did. Synaptics dropped about 10% after its earnings announcement. The upcoming conference call and tomorrow's trading action will paint a clearer picture. I will review the conference call replay later on, and decide whether or not I want to hold this short.
The position was quite a bit smaller than the Broadcom (BRCM) position (I'm obviously a bit gunshy). So, this only makes back a fraction of what was lost in that debacle of a trade.
On a different note... EBAY ran up a bit today after it posted its earnings last night. Hopefully, the stock will stay below 47.50 by tomorrow's close allowing the call options I wrote on the position to expire worthless. If that happens, I will have to decide if I want to write another round or not. If not, then my shares will be called away for an effective sale price of 49.25 ($1.75 collected from each call option).
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