Intel (INTC) adds 15 cents to $25.59 and is one of 20 Dow stocks holding gains following a day of mixed trading Wednesday. Morning options trades on the chipmaker today include an Oct 22 – 28 bullish risk-reversal for 2 cents, 7000X on ISE. Data from the exchange confirm that puts were sold to buy calls and open a new positoin, 10000X on the day. The bullish positioning comes as shares try to stabilize after the 11.1 percent slide suffered since INTC reached a 52-week high of $29.18 on May 2.
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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.