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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (48711)	11/15/2012 7:38:33 PM
From: Johnny Canuck	Read Replies (2) \| Respond to of 69835

It looks like INTC has found support temporarily at the $20 price level, a level a number of fund managers I saw interviewed said they would start buying at. I have a stink bit lower down to start an opening position, but I intend to essentially sit most of this sell off out till I get a buy signal on the indices. Looking at the open interest on INTC options it looks like most option call buyer lost money as they bought calls at $21 to $23 dollars. Similarly a lot of put sellers lost money as most of the open interest was at $21 to $23. Given the volume of open interest between $21 and $23 and the volatility this month I wonder if most of the open interest were some large institutions writing straddles on the stock.