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Michael Kurty
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Michael Kurty has been a full time trader for the last 15 years, specializing in options with an emphasis on vertical spreads and covered calls. He has been retired from an engineering profession, and has a Masters Degree in Statistics from Stanford. His trading techniques include... More
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  • GLW Dividend Hike !

    Well, the news is out: 12:51 PM Corning (GLW) declares $0.09/share quarterly dividend, 20% increase from prior dividend of $0.075. Forward yield 2.72%. For shareholders of record Nov 16. Payable Dec 14. Ex-div date Nov 14

    This is probably what caused the big spike last Thursday.

    The October Bull Put spread is probably pretty safe now and you can hang on to it for maximum profit when they expire.

    For new trades, I am thinking about holding my long positions until this current pop is over, and then writing some in the money calls. For those of you who are not yet long, you might consider taking a long position, then writing some ITM calls in a few days.

    Disclosure: I am long GLW, CSCO.

    Oct 03 2:42 PM | Link | Comment!
  • CSCO Breakout ?

    Today, within the first 5 minutes of trading, CSCO traded 5 million shares and gapped up to an open of 19.01. At the end of 5 minutes, it was at 19.14. Notes from Goldman ( "....long-term earnings potential in the area of software-defined networking and in set-top-boxes is underestimated. Shares are Conviction Buy rated with a $24 price target "), along with a favorable article from "The Street" back up the solid rise in price for the retail customer (you and me). EU's cloud computing support will also help this stock over the next 4 or 5 years. We have yet to see how the rise of Mobile internet ( Cisco forecast 10.8 Exabytes per month of mobile date traffic by at 1.3 EB per month ) will add to Cisco's potential. I'm betting that it will be very positive and the $27 price resistance point set back in April 2010 will be tested by 2016.

    Disclosure: I am long CSCO.

    Tags: CSCO, Breakout
    Sep 28 11:07 AM | Link | Comment!
  • GLW Strong Upside Push

    Yesterday, GLW made one of the strongest upward pushes I have witnessed for a long time ! Couldn't find any news to support the buying power, but it was definitely there ! It pushed thru 1st and 2nd levels of resistance (13.01 and 13.16), but today it has pulled back to the 13 support number. Consider taking a bull put spread, buy the Oct 11, sell the Oct 13 for a credit of 0.28 and be prepared to either roll forward or be assigned.

    Disclosure: I am long GLW.

    Sep 28 11:04 AM | Link | Comment!
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  • If the low of 16.65 for CSCO does not hold, the next support is the 16.41 formed back in 9/27/11 ....a resistance level.
    May 11, 2012
  • Just went long CSCO @ 16.76 for a day trade.
    May 11, 2012
  • Opening Bear Call Spreads on AIG based on the warrents being issued on Jan 19. I have opened a Jan 60/55 vertical call spread, credit 1.4
    Jan 14, 2011
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