U.S. tech companies are in a full on merger mania. It feels like every day there is a new semiconductor company that has put themselves up for sale, or in talks to merge (just this …
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Event: Intel (INTC) reports Q3 earnings tonight after the close. The options market is implying almost 4% one day move which is rich to the 4 qtr average move of about 2% and the 10 …
Continue readingRegular readers know we have been skeptical of bullish calls over the last couple years relating to a supposed refresh cycles for PCs. It is our belief ( as well as many much smarter than …
Continue readingCyber security software vendor FireEye (FEYE) has had a fairly controversial run as a publicly traded company. Since its September 2013 IPO at $20, the stock is up nearly 80% vs the S&P 500 up 18% …
Continue readingOn a few occasions this year we have expressed bearish views in PC-centric semiconductors with Intel (INTC) and Micron (MU) as our favorite targets (here, here & here). The Philadelphia Semiconductor Index (SOX) is down 13.5% on …
Continue readingEvent: IBM reports Q2 results after the close tonight. The options market is implying about a 3.5% one day move which is rich to the 2.9% 4 qtr avg one day move and the 3.1% …
Continue readingBack on April 24th we started “chipping away” at July downside puts in INTC when the stock was $32 targeting their Q2 report that we expected would have a meaningful guide down for Q3: Trade: …
Continue readingHere is some generally directional options activity that caught my eye during Monday’s trading: 1. EBAY – made a new all time today, on investor excitement about the impending tax free spin off of PayPal. There was a …
Continue readingA couple of weeks ago we rehashed a little bull / bear debate on INTC (read here) when the stock was $31. We reiterated a trade that we had legged into in late April (here), …
Continue readingHere is a quick recap of trades that we initiated, closed, or debated in the week that was June 22nd to June 26th:
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