They are going to start dropping prices, and this could be the bad news we’ve been waiting for to push Dell Inc. (DELL) down a little further so we can make a short term buy again.
I’m in the Jan ’08 $27.50s at $1.60, and I’m going to sell the Oct $22.50s against it for .60 with a .90 stop. Were I not in it already, I would just wait for a sell-off to buy some November calls. As it is, I’m just looking to make .20 or .30 on a dip.
DELL 1-yr Daily Chart