Larry, we can't trade MU until it is 0. Since MU is getting a bit low, and since we have been discussing
in-the-money options, here is something that I am looking at.
In-the-money option with MU moving close to tick for tick is good,
like Wayne said, with the Dec 27.5 puts.
But the same is true for a higher price stock like CSCO. CSCO was
off over 5 earlier, and I bought 10 Dec 75 calls for 6 1/8, a premium
of maybe 1/2, but the potential of a 2-4 point is much greater than MU.
The option is already 7 1/2. Besides, I'm more hestitant to play MU
on the upside for the next week.
The money situation with Korea has been limit down 10% 3 days in
a row. Now this is a gamble. If there is a bounce tonight, all of the
markets may be up tomorrow, and with the techs having taken a
beating for the past few days, the techs may have a 1 or 2 day bounce.
Naturally, all of the tech stocks are indicating oversold, but as you
have said, they can become MORE oversold. I'm gambling on a
bounce.
CSCO is now added to my trading stocks.
Patrick |
