Burned By Intel
By: A long position in Intel looked like a hot trade but all it did was burn.
Kelly made the unfortunate call on August 9th. “I'm not a dividend investor,” he said,” but what I have been doing is buying Intel which has a decent dividend yield. And the dividend yield pays for my hedge. So I can get a free look at this stock.”
Free look indeed, since he said to get long shares have tumbled. But wait. Kelly managed to nearly break even despite shares tumbling after he went long. How'd he do it?
I got a yield of .15 and bought a put for .17 cents, he explains. Net, net I lost .02 cents.
| Price | Change | %Change | ||
|---|---|---|---|---|
| INTC | --- |
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Trader disclosure: On September 14th, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour owns (AAPL), (BAC), (MSFT); Finerman’s firm owns (BAC); Finerman’s firm owns (GLW); Finerman’s firm owns (HPQ); Finerman’s firm owns (JPM); Finerman’s firm owns (IBM); Finerman’s firm owns (BBY); Terranova Owns (APA), (AAPL), (ARUN), (BMO), (C), (DO), (EOG), (FCX), (FTO), (XBI), (GS), (HES), (IBM), (JOYG), (NBR), (NOV), (OXY), (ORCL), (PEP), (POT), (RSH), (GLD), (SLB), (SWN), (SU), (SPLS), (RIG), (UPL); Jon Najarian owns (AAPL) call spreads; Jon Najarian owns (ARST) calls; Jon Najarian owns (CSCO) call spreads; Jon Najarian owns (RHT) call spread; Cortes is short Crude Oil; Cortes owns (RIMM)
For Brian Kelly
Accounts managed by Kanundrum Capital own (GLD)
Accounts managed by Kanundrum Capital own (GDXJ)
Accounts managed by Kanundrum Capital own (SOLR)
Accounts managed by Kanundrum Capital own (RIMM)
Accounts managed by Kanundrum Capital own (TLT)
Accounts managed by Kanundrum Capital own Japanese Yen
Accounts managed by Kanundrum Capital are short Australian Dollar
For David Levy
***No Disclosures***
For Stephen Weiss
Weiss owns (CSX)
Weiss owns (UPS)
For Scott Nations
Nations owns MSFT
For Joe Terranova
Terranova is chief market strategist of Virtus Investment Partners, LTD.
Virtus Investment Partners own more than 1% of (ABAX)
Virtus Investment Partners own more than 1% of (ALK)
Virtus Investment Partners own more than 1% of (AMKR)
Virtus Investment Partners own more than 1% of (CASS)
Virtus Investment Partners own more than 1% of (CSVI)
Virtus Investment Partners own more than 1% of (IGE)
Virtus Investment Partners own more than 1% of (LDR)
Virtus Investment Partners own more than 1% of (LPHI)
Virtus Investment Partners own more than 1% of (MGRC)
Virtus Investment Partners own more than 1% of (NRCI)
Virtus Investment Partners own more than 1% of (DBV)
Virtus Investment Partners own more than 1% of (XLB)
Virtus Investment Partners own more than 1% of (XLP)
Virtus Investment Partners own more than 1% of (XLY)
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Virtus Investment Partners own more than 1% of (XLI)
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For Patty Edwards
Edwards owns (HPQ) for clients
Edwards owns (MSFT) for clients
Edwards owns (BAC) for clients
Edwards owns (GLW) for clients
Edwards owns (GLD) for clients
Edwards owns (SPY) for clients
Edwards owns (VXX) for clients
Edwards owns (PGM) for clients
Edwards owns (C) for clients
