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Linn Energy, LLC Message Board

  • ronharv ronharv Feb 13, 2013 11:11 AM Flag

    Trading (for those interested)

    Looks like we had a classic panic blowout earlier today. I hope that was the case anyway as I placed some bets because LINE's drop now seems overdone. Bought March 35 calls, betting that the Feb. 27 earnings announcement and CC will be more positive than seems to be anticipated. I also sold 60 July 32 puts for .95. I'd be happy to either buy (on margin) 6000 units of LINE at 32 (unlikely to happen) or just keep the $5,500+ that was plopped into my account. The two put sales I made in the last half of 2012 went very well. Of course, it's my view that it's a win-win play: keep the money or buy units extremely cheap. Linn's high distribution and strong hedging is what makes me comfortable about selling well out-of-the-money puts.

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