Greetings,
Currently I have four open positions. They include INTC, CSCO, LU, and ORCL. I made no trades this past week. LU is slowly climbing, occasionally breaking the $3.20 dollar mark and then dropping back closing on Friday at $3.15. I'd like to move out of this position soon. With a little more rise in price I'll be selling this position.
CSCO is also steadily climbing up closing on Friday at $19.47. ORCL continues to be floundering closing on Friday just under $10.30 per share. INTC broke back over the $22.00 dollar mark again.
I've been watching a couple of stocks that interest me. One of which I may be buying some shares this week is IBOC. This is a bank stock which I'm sure many of you are familiar with. Recently it has had a pull back closing at $33.22 on Friday. This may be an opportunity to take a position in a quality stock that has performed well in the past. I'll be further watching this stock.
Some members have asked what INTC call options I find most attractive to sell while waiting for the stock to rise again. First, I'm prepared to hold this position for several months before a significant rise may occur. With that in mind I'm looking at the Jan 05 options versus the September or October options. The further you go out in time the higher the premium is due to time value. Also, the $25 dollar strike price is an acceptable price to me if I were called out. If called out I would get the $25 dollars plus 75 cents for the premium. If you do not want to sell your options so far out the OCT $22.50 is selling for 85 cents. There is always the chance you can sell the options keep the premium and not get called out and sell them again and again or have the opportunity to buy back the options for next to nothing (and sell them again). Remember, when selling a call option and the stock drops you may have gotten the premium, but the stock drop may be greater than the premium gain. There is always a risk.
Let's see what opportunities next week brings. I'll be looking to open some new positions.
Have a great week,
Anthony
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