Well, looks like I was pretty much dead wrong on Constellation Brands (STZ). The company dropped a profit warning bomb today on investors during their earnings release. Glad I didn't yet add to the position. I will continue to monitor the company, but I'm now undecided. What I thought was true for the company simply wasn't.
The markets were down pretty large in early trading, but they've since recovered somewhat. Scary times are here, but it's good to know that it's during these trying times that good opportunities arise. The level of fear in the markets is high today. The VIX and VXN are making highs that we haven't seen since June/July of last year (right around the time the market bottomed most recently).
*** Edit #1 ***
Sold March 30 YHOO puts (YHQOF). In a couple of weeks, either I pocket the premiums or I will have re-established the Yahoo! (YHOO) position at an effective price of 29.40.
*** Edit #2 ***
Sold March 45 FORM calls (AFUCI) for 0.90.
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