I took the opportunity to replace some options I'd closed out. I went out farther, though likely not necessary. Perhaps I should have added shares, took, but didn't . I have room in my short position for some shares, but had been waiting for a higher price that hasn't come and likely won't come. I likely need to add more on the way down, but feel comfortable with what I hold now.
There's an article about staying asway from a start-up (or almost start-up) and one reason given was no GAAP earnings. Without writing that CRM doesn't either, that article appeared to hint at the fact that 13 year old CRM doesn't have GAAP earnings either and likely won't next year either. Eventually CRM may have GAAP earnings which will be puny and call more attention to how overpriced the stock is (even though it will be much lower than this by that time).