No. of Recommendations: 2
I've trimmed a decent amount of leverage with the recent run up. When I was net buying, they were long dated, slightly out of the money call options, purchased when the price swooned to 260-270 (I try to avoid out of the money call options, but sometimes I can't help myself). I think the leverage & cost thereof doesn't match the current price point, and I'm trying to stick to my plan when I bought the options.
But I bought straight stock with the proceeds. The price is a bit higher than average, but not by much, and I think returns in the near and medium term should still be positive (Book is almost certainly going up in Q2, if that's your metric). And I've already had my fill on alternatives.