Sold 1/3 of my common @ $16 and 1/2 of the Sept $4 calls @ $12.
OB thanks for your insight on the VC induced sell-off. Outrageous trade here boys and girls.
Perhaps some of you might want to roll some of your Amrn profit into Aria on this down day. Not really talked about much around this board, but I like the odds from here.
CRUS - not so much of a run, but more of a chart play. They pre-announced so I am thinking most of the bad news is priced in. At current levels, this is trading at roughly 13X 2011 earnings and we may see an oversold bounce in the coming days.
I will likely play it with call options to minimize my downside. Looking at doing a similar thing with CREE into earnings tomorrow.
The other big risk with CRUS is that close to 50% of their revenue comes from AAPL. If that were to ever be in jeopardy, CRUS goes sub $10 in a heartbeat.
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