Good Afternoon team.

Remember everyone INTC reports today after the bell.  I you don’t feel comfortable holding through earnings then plan to close the position for a small gain.  However, if you are interested in holding the position you could consider buying an out of the money May Put to hedge the position.  Think of it as insurance.  If INTC moves up after earnings sell the Put in the morning at the open.  If it goes down there will be further instructions tomorrow.

New Trade Idea

XLU is breaking out today in an RBB type pattern.  I would not expect this to be a fast mover so we want to give it plenty of time.  Consider the June or the July 49 Call for a straight directional trade. Consider an initial stop at $50.00.  If the ETF moves up for us we my looking at selling calls against the position at a later date.

Doug

Remember all trade ideas are for your evaluation and consideration.