Phil writes: "IBM – I think earnings were fine, people are just too impatient. IBM re-affirmed guidance of about $13.50/share so $150 is a pretty good price. So far, in our [virtual portfolio], we only have 5 short 2020 $145 puts which we sold for $12.50. They're now $15.35.
"At the risk of being cursed out, we are THRILLED to see IBM get to our $145 target and NOW we want to make a bigger commitment, but we'll let the price settle in first.
"It's funny how people don't seem to realize how powerful Watson is and that IBM is well-justified shifting the company towards the AI future. This is a demo of their little helper-bots, powered by Watson, that are super-cheap because they are effectively dumb terminals that connect to the web (the classic IBM model):"