- New Trades -


Intel Corp. - INTC - close: 23.44

Company Info

Why We Like It:
INTC is a watch list candidate that is graduating to our active play list. The stock has spent weeks correcting lower from its June peaks. Yet shares finally found a bottom in August with support near the $22.00 area and its longer-term trend of higher lows. After underperforming its peers in the chip industry for so long this stock now looks poised to play catch up.

Shares had resistance near $23.00 and its 50-dma. Our entry point strategy was to wait for INTC to close above $23.15 and buy calls the next day. INTC met that entry requirement with Friday's close at $23.44. We want to buy calls at the open on Monday. Nimble traders could choose to wait and try and jump in on a dip near $23.00 or the 50-dma instead. I'm suggesting a stop loss at $21.75. Our long-term target is the $26-29 zone.

- Suggested Positions -
SEP 16, 2013 - entry price on INTC @ --.--, option @ -.--
symbol: INTC1418a24 2014 JAN $24 call - current bid/ask $0.86/0.88

- or -

SEP 16, 2013 - entry price on INTC @ --.--, option @ -.--
symbol: INTC1517a25 2015 JAN $25 call - current bid/ask $1.58/1.60

Chart of INTC:

Current Target: $26-29 zone
Current Stop loss: 21.75
Play Entered on: 09/16/13
Originally listed on the Watch List: 09/08/13