Technical analysis for shorts & longs Message Board

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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 691.72

-0.1%

Jan 16 4:00 PM EST

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To: robert b furman who wrote (48703)	11/8/2012 6:42:30 AM
From: Johnny Canuck	Read Replies (2) of 69835

I was just looking at the options trading on the puts for the 20's for the next few months. Given the lack of premium it looks like a lot of option traders are seeing a short term bottom here at around $20. I think you sold your puts when INTC was at $23 or $24 so you have an nice profit in hand right now. I am looking for an entry point right now to buy some shares to potentially write cover call on. Let me know if you exercise or cover you puts. I have looked at a longer range chart. There is a lot of support at $20. We might see $18 and on a really bad day $15, but I don't think we see $12 again.

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