Frank,
I don't know the reason for today's INTC drop, however, I sold 40 contracts of naked puts (March 140 and 135) on INTC. Personally, I think that INTC is a great buy at these levels, April is earning's month, I expect a run of at least 10 points from here before earnings.
So here is my plan,
Wait until after March 25 (fed's meeting), maybe until Apr 4 (AMD K6 introduction), and buy INTC calls for the earnings play in April.
I know this is against human nature, but I buy calls/sell puts when INTC drops, and buy puts/sell calls when intc rises.
Just MHO.
-H.P.
P.S. INTC's down volume lately has been very light, similiar thing happened to INTC when it went from $150 to $165. |
