PT_Marche

INTC -- iron condor over again

NASDAQ:INTC   Intel Corporation
I like doing iron condors on Intel all the time and consistently just keep rolling them out. Never a huge risk play with Intel in my opinion with smaller spreads but always adds a little daily theta to my portfolio.

I don't do a lot, really none at all, Elliot wave counts with Intel . Recently, I just draw supply and demand zones and trade the range.

My play: will look to enter an iron condor tomorrow, looking to sell the $57.50 strike call to upside (buy 60) and sell the 47.5 strike put to downside (buy the 45). Simply approach play and not throwing a lot at it. Something to balance out portfolio a bit and grab some daily theta. Earnings are approaching, however, but will still look to enter this play.
Trade active: I opened up a modified double calendar spread:

Sold the Jan. 29 45 put and 55.5 call
Bought the Feb. 19 45 put and 55 call

Skewed slightly with positive delta and has about $2.42 of daily theta. Looking for volatility to increase approaching earnings which this strategy should benefit from and ideally will look to close out before earnings announced. It's a small play, costing about $65 for the entire spread.

Will look to try and close for a $10-15 profit per spread opened.