Hi Richard. I'm extremely busy today with some major work-related problems, but I wanted to drop by with my INTC update. I assume the recent rise is going to scare out most people who may have bought puts recently. However, being the stubborn person that I am, I have bought puts once again and averaged my price down to $2.85
#1 not only are the non-blocks pointing down, they blocks are pointing down as well today. That's good.
#2 there are some major players buying the exact same options today.
There are 2 trades for $68,000, a trade for $36,750, and a trade for $178,750....and they're all buys. It could be people covering puts that they had earlier shorted, or it could be people betting on the downside. Take your pick.
This is the perfect example of why I don't want people to follow my trades and why I recommend against it. As you can see, I have no problem averging down over and over if I'm confident in my read. Other people may #1 not have the confidence and take the loss or #2 not have the cash to do it, so they hold and wait.
I'll try to get back on in a few hours, but I'm really busy.
Take Care & Good Luck! |
