Okay, apple is announcing earnings tonight. We all know that the markets are going to live and die with apple tomorrow. (If you guys remember 2 of 3 quarters ago, apple beat consensus and markets were up 2%, no other notable news) The consensus is 8.81 which is only 20% increase YOY. This should be extremely achievable, and I believe margins have increased again this quarter.
Anyhow, just in case it isn't obvious why I'm bringing this up, the MLPs will also move with apple, so I was wondering if anyone is taking some MLP chips off the table in case apple misses. I for one am extremely nervous, because I suspect tomorrow is going to be my greatest P/L change for the good or for bad.
Earnings in 3 hours, markets close in 2. Any plans? I removed half my chips from PAA, selling my 45 calls for 1.05 when I saw it struggling to cross 46 earlier today. Also bought some FB puts today as a semi-hedge. Anyone else decreasing positions?