SELL ANET
0.75 shares at $125.84 on 2026-04-06
Reasoning
ANET is 53% of non-cash portfolio at -11% unrealized loss ($285 → $287 at $125.89). Playbook recommends 0.5-1.0 share trim for concentration risk ahead of Tuesday Iran deadline binary event. Selling 0.75 shares (~$94.40) reduces concentration to ~35% of non-cash portfolio while respecting the May 4 earnings catalyst thesis. Current price $125.89 vs cost basis $140 represents controlled loss crystallization ahead of macro uncertainty. Iran escalation scenario poses 5-10% downside risk given ANET's 2.11 beta. This is defensive concentration reduction, not thesis invalidation.
Outcome
7-day: -22.75% · 30-day: -11.10%