And 8 days later what do you say? If you are long you have had your #$%$ kicked. I see this breaking 30 (for a 6% div) before a modest rally. T is getting hammered every way a stock can get hammered ever since ex-div day (as I said it would). And really even before that when every little rally was shorted or sold into for many weeks. Pretty much non-stop bad news both in the general market and T specific. This is a scary ugly market and T is one sick stock right now.
Then you probably won't enjoy hearing about my 194% return in one day. I bought weekly 35 puts for 35 cents on Tuesday and sold them for $1.03 Wednesday. I had them offered for 50 cents but TDAmeritrade got me $1.03 at the open. Then I sold the 34 calls short for 19 cents and right now it looks like they will expire worthless tomorrow. But I must admit that you are right about T being a dangerous short right now. After a 14% drop in the past month it is due for a recovery next week. I will be buying calls Tuesday.
I disagree with "coulddobetter" , if we get a close above $35.60 today,, I see this testing the $38 levels in a couple of weeks,, no matter what is reported in the Nov. 7th ,, (T will announce what the plan is with rural areas Nov 7th) ,, if T decides to push U-verse to rural it's a good thing,, or if T decides to sell rural areas to the highest bidder it's a good thing,, so my feeling is todays price is cheap because after Nov. 7th it will be near the 52 week highs again.