Following those previous drops the compelling part had been that 'INTC must once again trade at an 18 PE', so we kept saying the stock must be cheap. But now I believe that we can throw out the 'compelling PE' argument and that the 'compelling yield' argument will provide a floor for the stock at around $12. I'm not making a general call that all stocks with >%4 yield have a floor under them. Just that I believe INTC with no exposure to the credit markets and yielding >4% has a floor under it, IMO.
Yea.....I had the same general idea thinking $14 would be the floor with the current dividend. Sold a few more puts today Jan 12.5s... got 1.10. That's it for me. Will have a large Intel holding come Jan.
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