BBBY didn't gap up on the open today
I tried to exit on the open but couldn't get execution at a favorable price. I let the opening range set in on BBBY and I am seeing lots of buying support at the 34.50 level, but it can't seem to make it past that level. If it breaks past support or resistance, this could move substantially, just don't want to get caught on the wrong side. My stop is set very close to that 34.50 level.
My NCC short is continuing to work nicely. In retrospect I should have added to the position on the uptick Wednesday, but there are a lot of things I can say I should have done in retrospect.
I priced puts as a way to add to the position, but the volatility premium is a bit too high for my tastes right here. Of course I don't like to buy puts in a downticking market, since that premium gets exaggerated so I will keep my eye on it.
Also considering some puts/short positions on selected metals stocks.