OptionsPlay DailyPlay

Bullish – INTC $59.60 – Technology

Catch OptionsPlay’s Chief Strategist, Tony Zhang on CNBC, Options Action every Friday at 5:30 PM EST!

Market Outlook:
The S&P 500 (SPY) has continued to climb on trade war resolution news and central bank pumping liquidity into the markets. Notably, the VIX continues to decline, suggesting that traders aren’t too concerned about market pullbacks. Despite strong momentum and relative strength, we continue to see risks of a pullback towards $302.50.  

INTC Trade Idea:
On CNBC’s OptionsAction show on Friday, Tony Zhang, Chief Strategist of OptionsPlay suggested that Intel’s earnings next week could have the bar set too low. INTC is pushing a $60 resistance on improving fundamentals. Tony Zhang, expecting INTC to beat earnings, suggests selling a Feb 28 59.5/56.5 Put Spread @ $1.15 Credit. As of Friday’s close, these puts were trading at $1.14 Credit.

We’ve structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience. You can also view the Options Action’s video by clicking on the following link: INTC OptionsAction Trade

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