Let’s Chip Away at an Intel Trade

Nov 01, 2022 | 02:13 PM EDT

Stocks quotes in this article:

I still feel like we are going to test new lows at some point. But … when I look at long-term charts I am starting to see some value in a few names. One of the names I really like is Intel (INTC) .

We are seeing huge call buyers in June in INTC at the $35 and $40 strikes over the last few weeks. I think the stock, once the market does recover later this year or early next, will easily make a run at $35.

The March 17, $30 calls only cost about $1.85, I think they will eventually be 5 dollars. I am a buyer.

Trade: Buy to open one INTC March 17, $30 call for $1.85.

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