A comment at Seeking Alpha by "bcfran" n the recent Intel article suggested that a way to play the solid foundational support for Intel was with $15 Jan 13 Leaps that could be purchased at almost no premium over intrinsic value. The more I thought about that the more it made sense to me.
So, I covered the short $22 Mar puts that were put in place in conjunction with the last post at an inconsequential gain and acquired one lots worth of $15 Jan 13 Calls at $6.35. This increases the leverage on the overall Intel position. Hopefully that leverage will prove useful sometime over the next two years. Over time, hopefully there will be some opportunities to hedge away some of the risk related to this leverage might present themselves.