Intel Corp (INTC)

[ChipGeek]

Re: AMD puts

I'm still holding on to the April 22.5 puts that I bought just prior to the Q3 earnings announcement. After earnings, I was sitting on a nice 50% gain in one week, but decided to hang on through another quarter (I regretted selling my last puts too soon over the summer).

I was regretting that decision a few weeks ago, when AMD's analyst day brought me back to just about break-even. But with today's action, I'm back to about a 60% gain, and am feeling confident heading into the Q1 release.

I will probably sell these after earnings regardless of what happens, because the analyst day told me that AMD is going to be going into full denial and dream mode, and although this should make AMD's looming drop that much more precipitous, it makes it very cloudy as to WHEN this will occur (the market is just full of suckers). If the stock gets back up to the 21-22 range, I very well may get back into this position with some longer-term put LEAPs so I don't sweat about it quite so much. Less potential gain, but more of a sure thing, I think...