u/StandardObject91 · 5d ago1 prior · awaiting results
Long EIX $55C exp Sep 18
EIX Tanking
California utilities have been oversold following the failure of wildfire legislation; EIX down 25% with a 6.5% dividend yield and solid 2.8x dividend coverage suggests the market has overreacted to a tail risk. Author expects at least a near-term dead cat bounce and owns call options for upside exposure.