≡ Menu

Topping up Hertz Rent a Car (HTZ) Yet Again

Hertz (HTZ) continues to steadily fall.

music selection:  “Two Princes” — Spin Doctors

Whenever one of my short positions declines by more than 300 dollars, I top up the position.  I’m currently maintaining a 5,000 dollar position in HTZ, CAR, GM, F, and CNQ.  Today, I sold 42 shares of HTZ short at 9.02.  I now hold 554 shares short and have accumulated 3,003 in unrealized capital gains on HTZ.

Across all short positions, I am up 4,043.  CAR is up 1,088,  CNQ is up 478, and GM and F are both down.  The traditional shorts provide 23,972 in leverage that is negatively correlated to the market.  This could significantly boost returns for the portfolio while reducing volatility.

In other news, four options positions expire today.  EOG and MU will expire out of the money.  NVDA will be called away and ADM will be assigned.  I will continue to write covered calls on EOG and ADM.  But will seek new opportunities for MU and NVDA.  I’m currently leaning to getting back to my roots with put writing on Big Cheap Tech names.

Devour your prey raptors!

{ 3 comments… add one }
  • Chris B June 9, 2017, 8:40 pm

    I sold a put on Salesforce.com (CRM). I wouldn’t mind owning them long term either.

    • The Lizard King June 9, 2017, 9:18 pm

      I’d like to be bullish on CRM but the sky high P/E makes me nervous.

      • Chris B June 11, 2017, 1:05 am

        I just managed a project at my company where we replaced a $1M/yr system with Salesforce at a fraction of even one year’s cost. We’re also about to start using it for HR. We already use it for all sorts of internal support cases. It’s replacing everything but the OS. Also, we’re buying third-party add-ons and linking databases with other companies that use SF. That’s the part which makes me think they’re about to become Microsoft circa 1996.

Leave a Comment

CAPTCHA
*

Next post:

Previous post: