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Qualcomm Inc (QCOM) stock still looks cheap here based on its strong free cash flow (FCF) and FCF margins. Shorting out-of-the-money (OTM) put options has proven to be a good income play for value investors in QCOM stock.
QCOM is trading at $207.43 in morning trading on July 9. My June 3 Barchart article discussed shorting OTM puts when QCOM was trading at $205.68: “Qualcomm Stock Is Still Below Fair Value - Shorting Puts Is a Good Strategy Here.”