DELL is now really an intraday 'hot' play but I would consider a strangle tomorrow. 31.50 might be a good trigger for some intraday recovery. Not all plays will move enough to get one position (the put or call) that much higher. I like plays like QLGC, YHOO EBAY NVDA GNSS even SNDK was powerful, but some strangles/straddles just languish.
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