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Offer extended through Friday (9/3).
The short I advised from 27.15 has proven timely, since it helped us protect our gains from within 13 cents of a peak that marked the beginning of a so-far 10% correction. At the top, we purchased a February 24 put for 0.35 and shorted a February 29 call for 0.60. For each round lot of stock still held (with a cost basis of 11.01!), I’d further advised offering a February 21 put (UMUNT) short for 0.35, good through last Friday. Let’s extend the order for another week, since AKAM’s selloff is steepening so that we now have a good chance of being filled. My downside target is 23.89, and I’ll recommend six cents above it for 100 shares, no stop-loss, regardless of whether the put order fills.
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