Trade Ideas
UOA PRO New Trade Idea INTC 7-24
10,000 20November 130 calls bought for 7.57 above open interest of 2,758 contracts; 10,000 20November 150 calls sold for 4.77 below open interest of 13,299 contracts. Stock 92.50.
New Trade Idea
Ticker: INTC
Stock: 92.50
Trigger: 92.08
Targets/Resistance: 87.49, 82.06, 77.79
Expiration Date: 07AUG
UOA:10,000 20November 130 calls bought for 7.57 above open interest of 2,758 contracts; 10,000 20November 150 calls sold for 4.77 below open interest of 13,299 contracts. Stock 92.50.
INTC $93.01 Last.
Stock remains vulnerable following a disappointing earnings reaction that pushed the stock lower and damaged the near-term technical picture. Although a large early-August OTM call purchase hit the tape, the activity may be protective rather than outright bullish given the continued weakness. Momentum has deteriorated across the shorter-term charts, and the recent support from the broader indexes and semiconductor sector appears to be fading.
Trigger: $92.08, today’s low.
Strategy 1: Consider the INTC 31July 89 puts for $3.15 projected at trigger level today.
Targets: 87.49, 82.06, 77.79