As everyone knows Intel stock yesterday blew past earnings estimates and after hours the stock soared to $32.43. Pardon me, but I really thought the stock would close at least at $30.50 today! Instead Intel stock jumped at the outset to $30.48 and then pulled back. It then tried to rally, failed and began a decline which by 1:43 saw the stock down to $29.10. I was surprised to say the least and I bought 1000 shares for $29.13. I had intended to use these shares against my debit call spread. Instead I sold then at the close for $29.88.
So what happened to the stock? Where was the big bounce? To say I was surprised is an understatement. Here is how I adjusted my strangle trade and two other trades I entered today in the stock. While it is painfully obvious that the majority of investors have no interest in Intel stock at this time, I remain keen on Intel which is why I did my adjustments today and have updated my outlook along with placing more capital at risk in the stock through additional trades.
This article for USA members.
The Intel Stock Strangle Adjustment for July 16 2015
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