Thanks. So far I am dabbling in options as one would expect from an equity guy - mostly selling them to collect the premium when a stock is almost cheap enough to buy or almost expensive enough to sell. I have a couple of long options positions too. No naked calls, though.

The TXN was more or less as I thought it would be. Not too good, not too bad. I think the companies are adjusting to the reality that they ordered too much capacity, and are making things right. Since the stock market generally looks ahead I think any remaining down legs will be relatively short and would be willing to ride them out. The cycle played out in the stocks earlier than usual, it seems to me (unless I am wrong now, it was late and things will crash in the next couple of months).

What is your analysis of TXN midquarter update? I sold some July 35 straddles (both put and call) and was thinking about buying the position back tomorrow and taking profits. I sold them on 4/24 and received $3.10.