Free carry effectively removes ALL risk to your capital --...

Free carry effectively removes ALL risk to your capital -- remembering that you haven't made anything unless you sell. So any initial capital you remove from the table can only be good in the long term and frees you up pursue other opportunities. Sure your potential profit might be reduced but you are no longer risking the initial investment. Having been on the (highly active) FMG board for the past few months I am amazed how many traders seem to have been in the stock at an early level, currently sitting on 300%+ potential profits, yet are leveraged to the hilt and hoping to become millionaires off the company going to some astronomical level.

I am waiting for my paper profit to hit 200% in this (which is probably greedy) and then will dump 1/3rd my position to free carry and look somewhere. By no means does that mean I don't have faith in LYC continuing on from here but why risk what you don't need to?