I entered a limit order last week to sell a put and it was executed this morning. I sold 1 INTC Dec 22 ’12 $23 Put for 1.1. This will provide $110 in premiums. If Intel trades under $23 around December then I would get assigned 100 shares for a cost of around $22 counting commissions. My current cost/share is $22.53 so I would be averaging down slightly on a great company. I have no problem adding another 100 shares at this price. At $22 Intel would be yielding 4.09%.
Intel recently lowered their sales outlook for the third quarter ending in September from 13.8 Billion to 13.2 Billon. I believe this is just a temporary weakness that I decided to take advantage of. I’ve also updated this trade on my options page.