DISQUS

Jeff Borack · 5 months ago

It's really impossible to know what their position on XLE is. I see 3 sets of calls, 2 of puts, and then regular shares. Without the exercise prices, what's the real exposure?
marketfolly · 5 months ago

Well yes it is impossible to truly understand the intricacies of their position. However, they do still have quite a large assembly of calls and common stock. If it shows up on the filing, it means they were bought. So they bought the common, calls, and puts as well.

I guess we're more fixated on the raw numbers and portfolio weighting since we cannot know what strikes everything was at. Gross exposure to XLE is certainly on the long side, rather than the short side with puts.