Buy INTC via selling Aug 16 puts, stock at 18.01
INTC higher on earnings and guidance. Plan is to double down if the stock fills the gap (chart) at 17, depending on how it gets there.
Stock market is punishing the bears today. There are lots of them are prowling. So far SPY has held the 200 day-moving-average (chart2), I confess I thought a whipsaw lower was much more likely.
Meanwhile, the "chickens" are running from Treasury bonds, with a second big down day in a row. Bonds yields are getting closer to the targets some pundits have been predicting.
Long TM for July
Long IWM, XLE, INTC for August
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