I am not going to personally do this trade. However, I know some traders out there who wouldn't mind owning CSCO at a nice support level, about 8% cheaper than it's trading right now ALSO at a nice strong support level. #buylowsellhigh
In fact, I did it cause if you draw the TL on the recent tops prior to the big jump, the support comes to $31 and I definitely want to hold this Dow stock for another 1-2 years. They are buying out companies and are back in the old mode of gobbling up competitors. They recently bought 3 companies that are doing wonders, and of course, they have the LARGEST marketshare in Security business today at only 4% of their revenues. And, Security business is being revived with the daily threats that Enterprises are dealing with. I have met with so many CIOs and they are paying ransomware here and there already.
Received the 200 shares from the aggressive Put Sale of $32 strike for May 19th. Will turn around as soon as the stock recovers to do $32 Call Sells. I had received $1 for it, so my net cost is $31.
kenny1924
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I just did it this morning. $32 strike. Got a $1. It is a good deal since Cisco is on the come-back.