Whatever your position, please hedge with options. ANYTHING can happen ANYTIME. Please look at NSM, shorts yesterday are totally FUBAR ed. I was holding on to ZAGG when it dipped 25% in one day all because apple announced a the smart cover for the ipad 2. So I came to the conclusion that I have to hedge against drops at all costs.
my position in BBBY: I was initially long the stock with calls. I bought puts earlier this money as well. I bought about the same $ value, but more puts interms of contracts. I think this thing actually may tank after earnings (5-7%) and have bought puts accordingly. If it goes up enough, Ill profit from my calls. Either case I want to sell thursday morning after seeing how the market is reacting.
I am not quite sure how it will handle during earnings. I know it will not tank and I know it is not going to 60. Other than that I would call it a hold. I have sold some covered calls on it and have sold and traded some put options. I have made a lot on this stock but I would call it a hold right now with everything going on in the world. I have cut back on stocks but am not out completely. I still own a lot of stock but have covered calls sold on about all of it. In the next few days you should see a lot of shorts coming to this board. It happens 4 times a year. They mostly lose.