F5 Networks reported last night and the results were nothing to write home about as everything in report was "In-Line" . Their markets in Gov't and Telco remain soft.
The positive that I can take away from the position is the latest price action, as we may in fact have seen the lows at $70. Stock rebounded this morning after that report and could have easily cracked again.
Believe the worst is over and currently holding on to the position. FFIV will be a candidate to sell calls against as the premiums are quite good and will help put income into the position.
My Timing on this call was off but I believe we can dig our way out of this situation. There was an analyst upgrade to BUY today with a price target of $110. Once things improve we may see more of that.
Disclosure: I am long FFIV.
Additional disclosure: Stocks for Income means just that at Stocks4Income.com