... then I have to run down to NYC...
INTC... clearly call volume is heavier along with open interest in the January contracts, BUT what intrigues me is the risk taking on the put side. Over 13 thousand Jan20 puts changing hands mostly on the offer at 10-cents. Hedging? Perhaps, but that can and should be done in the money with the 22-1/2s. It seems there are some contrarian lottery ticket buyers.
I have no crystal ball, no desire to gamble, will just wait it out. I see a possible double top formation. There will be opportunithy to play INTC after earnings, but I sure am anxious to see just how wrong or right those Jan 20 put buyers will be - probably wrong.
Crude - short sellers continue to mint money. We put in a $50 handle very briefly at $50.95. This opens the door to a test down to just above $50 no doubt. I still think we're oversold, but sure won't stand in the way of negative sentiment and will continue to short.
1 comment:
It will be interesting also to see how wrong or right the Jan 20 put SELLERS will be!!
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