- Jan 23, 2002
- 2,206
- 12
- 81
RMBS trading lower off the gate due to a Micron request for a trial continuance. It's a legal term for a delay due to a extenuating circumstance. Unfortunately, the documents they gave to the courts are sealed and even their request is redacted publicly. Some are guessing that either Samsung or Hynix settled and Micron needs a delay in order to redo their defense strategy. I don't think this is the case here, it's possible, but not likely, especially if the stock is going lower in fear of a delay.
I have February $18 puts to hedge against an adverse decision at the ITC, but it's helping in this scenario too. I still 13,000 shares - depending on what happens today... may have to make some orders.
If it crashes due to a delay, I plan on buying out-the-money call options cheaply. If it goes up, I don't plan on doing anything... riding out my shares and may possibly buy higher put options.
I have February $18 puts to hedge against an adverse decision at the ITC, but it's helping in this scenario too. I still 13,000 shares - depending on what happens today... may have to make some orders.
If it crashes due to a delay, I plan on buying out-the-money call options cheaply. If it goes up, I don't plan on doing anything... riding out my shares and may possibly buy higher put options.