Hi Kirk,
Clx numbers are now working through a small group of large positive offsets. Todays offset is +19 and Monday is +24 so this is a rough patch in the ten day.
After Monday the offsets are +5. -3, +3 -5 and the following week is -10, +8, -5. -19
The 30 day offsets are for today +5 and next week: -13. -6, +6, +15, -8 and the next week is -2. -15, -8, -11, -9.
Looks like we may have a late run up into expiration and even better the week after. For the end of the month both the 10 day and the 30 day are in sinc - which usually results in a good run up.
The fly in the ointment might be we have a truncated wave 5 and it could morph into a Cwave down.
Clx doesn't suggest that, but we're on a steep decline within a bull flag, so support needs to come in.
The put premium is once again very inflated.
I bought to close my Intel July 40 at break evenput and dropped down to a $30 put, but further out in time. If assigned owning INTC will yield 5%. January 30 puts at 1.32 as I type. Net purchase price at 28.70. $1.46/$28.70 = 5.087% yield.
I get paid to wait for Gelsinger's plan to become a turnaround.
May well get better.
So far today it looks like we've got a truncate 5th wave of 4. So the B wave shuts down early and we dive into a Cwave down.
Headfake over the weekend, of a big C wave to go!
Bob
Bob |
