My solution to this malaise has been to sell covered calls on my entire position, I was able to get $1.00 for the November 7.5 strike price. We will see where it closes in November (if below 7.5, I'll sell calls again).
So what is with this reverse split that is happening to all of my shares in my fidelity account today? There is nothing on yahoo news, maybe because the symbol seems to have changed to PRISD. When on googles "promotora reverse split" one gets fragmentary information.
I also failed to get the Shell MLP via Fidelity. I wrote some puts against it, but the share price stayed up so I just pocketed the premium.
I got 100 shares of AM from Fidelity but it hasn't been doing so well and will sell this position after the call I wrote against it expires.
I got lucky with EQM, there was a secondary offering at $76 on 12 March and Fidelity allocated me 500 shares. The secondary was to fund the acquisition of another MLP with value/earnings said to be accretive. It dropped a little for a few days, so I bought more at $75. Eight weeks later EQM hit 88+, it off to $86 now but I timed the maximum right and sold covered calls for more income (Oct 15 expiration, $95 strike price, for $3.40)
I thought BSM would do better out of the gate. I only got 100 shares, but averaged down at $18.23, $17.99, and $17.53. I'm disappointed, and like some other posters think the underwriters should have offered more support, but am luckily only $82 down on 1600 shares.
Regardless, thank you both for some relevant posts; a refreshing change from much that appears on this board. I'm in the green, having averaged down from 3.8 to 2.5 and am trying to figure out my long term price target (current bias is to hold for one year to get long term capital gains, hedged with some covered calls, but this may change)