In today's market plunge, CCI covered the short position in (Lulu) realizing a 4.8% gain.
Frankly, a lot more profit could have been made shorting several other vehicles (i.e. financials) over the last few days. However, any gain in a sea of red is still a profitable hedge. Lulu remains on my watch list to potentially short again. Perhaps by reinvesting this gain in a short option strategy.