I am selling the July 33 Put at 1.40 closing out this trade…..this is the stock’s first day up in a while and the rally could have legs.
Original Post june 6th, 2011:
Friday on Options Action I suggested a simple Put purchase in TXN as the company is set to tighten up their guidance range for Q2…. TXN discussion about 4 mins in…
TRADE: was simply to buy the July 33 Put for .75 when the stock was 33.75…..rationale as that NOK was an almost 20% customer of TXN in Q1 and while TXN may be some what insulated from the problems ailing NOK it may be prudent for them to give some conservative guidance in an effort to prepare investors for the coming slowdown……