LINE began the month with a close of 37.53. The PPS is a bit over a point lower at the moment. That's not exactly a catastrophic drop. I expect that the effects from a small, dishonest hedge fund will disappear in a matter of days.
Yes, I find it very convenient that Opex Friday is always so close before the dividend dates. That is why I am short so many out of the money puts. That usually catches the dividend run and the high for the price cycle, hence then puts have always expired worthless and I collect the premium. Let's hope that run continues, It has for the last few years. About 500 of mine are Aprils so we will soon see. A lot of them are 32's and 33's but do have some 35's as well (Short Puts) I think I am safe barred some disaster, but still have fingers crossed.
Kevin Kaiser is the name of the person from Hedgeye that did the negative report for their "institutional clients"
yesterday. He even touts that he will walk them through this theory at 11am yesterday on twitter.
He talks about the increase in volume this morning on twitter. This is nothing.
LINE will continue to increase their payouts by 5 to 6 percent each and every year and even more than this in terms of FCF or CAGR. I have heard this from every legitimate Analyst that covers LINE. If these short sellers are correct, and they are not, then they should be short every single upstream MLP, because they all account the same way, buy few make the kind of steady money that LINE does.
I agree. And your post re your talk with LINE IR was very helpful and spared me from making the same call. I was encouraged to buy some Apr. 36 calls, as LINE should recoup nicely by then as it moves into pre-distribution mode.