SHORT DUK @ $103.16

Shorting DUK @ $103.16

6% position

I've been hunting and looking for a good way to reduce my exposure, especially to utilities. Shorting DUK is one of my favorite ways to play this idea. Duke is a slow growing, boring utility with a ton of issues facing it - and their latest rate proceeding is going to be highly contested and controversial. Probably not a good time to expect new upside. 

I'm pushing this position to max right away because: 

1) I want to reduce my exposure meaningfully without selling

2) The contentious rate proceeding will yield a rough outcome for shareholders

3) DUK doesn't have many upside levers and isn't a takeover candidate.

Stay tuned as I keep hunting for good investment ideas.