Yes, possibly. I can write some puts at the same strike and quantity as the calls the wrote, for one thing. Here's some additional semi info. I had the right idea selling calls into this rally, only I did it a littlee too early. Learn, Learn, Learn!!!
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SEMICONDUCTOR STOCKS. It's that time of year again when negative sentiments start to turn more bullish as companies prepare to report their latest quarterly results. The chip sector is no stranger to this phenomena as it is once again drawing investors' attention on the growing sentiment that results for the period ended in March will be better than expected. While this sector has lived a Dr. Jekyll and Mr. Hyde existence during the past couple of years, just a few weeks ago, the sentiment had turned decidedly against the sector as lagging PC sales and increased pricing pressures were expected to take a toll on results. Now that expectations have been reduced, Wall Street is again beating the drum that the semiconductor sector could enjoy a modest quarter. To be sure, the leading semi stocks have wasted no time in rushing higher as Intel (INTC 129 9/16 +2 1/16), Texas Instruments (TXN 112 3/4 +2), and Motorola (MOT 78 1/2 +1 5/8) are all trading higher. Even much maligned Micron Technology (MU 53 1/16 +1 9/16) is being buoyed by the rising tide as investors climb back on board for what appears to be another brief upward ride. While indications from the PC makers are that conditions have slowed from the torrid pace experienced in the latter part of last year, it seems that most technology stock are now positioned to at least match reduced Wall Street expectations. This is the game that gets played each quarter, but one in which reverts to the original trend once the leading chip makers report their numbers. As always, buy on the rumor and sell of the fact. |
