Intel (INTC) is up 2 cents to $16 ahead of earnings. Analysts expect the chipmaker to post a 3-cent per share profit, down from 29 cents a year ago. In the options, trading is brisk and implied volatility is higher. April 16 and 17 calls are leading the flow, with a combined 55K traded. April and May 16 puts are also active. 127K calls and 91K puts traded total and active trading has implied volatility up to 55, from about 53 Monday. A volatility skew between April and May hints at a possible earnings gap move of $1.05, or 6.6 percent, when INTC reports after the close.