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Wow, DELL's june strike 10 at 2.13/cnotract is attractive for option writers.

If you missed the boat on DELL's upside from 10 and afraid to buy shares at the current levels, don't worry.  If you buy at 11.83, Monday, and write June strike 10, you'll get nearly .30/contract in intrinsic value.  If DELL was to pullback to 10 (unlikely), you you still have a .30 hedge per share and the opportunity to break even at 10 without sustaining any downside from 11.83.