I would never have believed you if you said months ago the Berry deal would go through & LINE would drop. So to be down 1%, under $30... This is what we have all been waiting for? And for those who say they dont care about the pps- you are crazy. Sure, divs are nice, but who doesnt want the share price of their holdings to go up? And I hold options as well... that's where it really hurts :(
"who does'nt want the share price of their holdings to go up? "
..those who have a 'drip'
...those who plan buying more at the market
...those who may have their shares in a IRA, are over 71.5 and will have thier MRD calculated in a couple week.
I may be crazy but I could care less about the price per unit. I bought starting on 3/9/09 and am in for the income only, as I never plan on selling. Maybe my children will care about the price once they inherit. As for crazy, buying calls on line? The market has been beating up all the E&P mlp's. I wouldn't touch call buying on line or lnco. Where I made money was selling the puts on line and lnco when they were in the low to mid 20's. Now on lnco, I do care about price. I bought 1000 shares today and sold the $29 covered call for $.70. Trying to make 25% a year doing that.
All available shares are shorted now which means they're about to hit the SHO list. This is what shorts do trying to scare investors into selling so they can cover. In a couple days they are on the list and are really screwed. They played this game too long.
Hold the stock, write calls about 6-8 weeks out -- roughly comprising 2 ex-divs -- preferably when there's a sharp upward movement, and you can effectively double that fat dividend. And then you don't care so much that the stock drops on a given day or trades sideways for a long time.