Well...........I bought 4x my original purchase yesterday at $3.05 for DRL.My only DD question is will DRL go under? The reality is I do not know, but do not think it will. Some of you may remember that I sold some '$5 puts'. Those are Jan puts (not Dec as I stated in another post) and I got a $.75 premium on the put. Sorry for any confusion but I have too many options positions and did not check. Think about the premium on my puts….15%....no one thought DRL was going under $5. So, with the puts, I will get 2x my original purchase on the 3rd Friday in January. If I get the puts assigned then I am 7x into DRL with a average cost of $3.91. If the stock is not assigned then I am 5x into DRL with a $3.48 average cost. (Between us girls on the board, I do not care if I get assigned the stock). Just to level set, my original purchase was 1x, puts are 2x, and I bought 4x. Well, am I a goat or a hero? I do not know and time will tell. (Again between us girls….I have been both a goat and hero in my investing career) One of thing that we have not talked about is nads that this method takes. When you double down it takes major nads or macho or what ever you call it. I try to manage it via my overall investments, even at 7x, I have only 2.5% of my stock portfolio in DRL and about 1.5% of my net worth. I can survive the worst case on this one. If DRL goes to $1.50, I will not be a buyer.Happy Holidays to all.Cheers, Gary
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