Intel (INTC) is off 26 cents to $27.81 and 35000 Jul 31 calls traded on the chipmaker today for 27 cents per contract on ISE. Data from the exchange indicate an opening customer buyer. Bullish trading was detected in Intel earlier today when a Jul 26 – 20 risk-reversal was initiated on the stock at 7 cents, 10700X (see 11:44 note).
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.