Intel (INTC) Trade Adjustment
After the April 24th $63 Calls expired worthless on our Call Diagonal, we suggest turning the remaining May 29 $60 Call into another diagonal by selling a May 8th $61.5 Call @ $0.58. This would reduce the total risk of the trade to just $2.23 per contract, less than 4% of the underlying ETF price. INTC has already moved higher after our trade and may have limited gains this week. We will continue to sell calls against our May calls if INTC ends the week below $61.50.
• INTC – 3% Unrealized Loss: Sell to Open May 8 $61.5 Call @ $0.58
Market Outlook with Tony Zhang & Michael Khouw @ Thursday April 28th 4:15 PM EST