Intel (INTC) is down 15 cents to $24.99 and one of 16 Dow stocks trading lower, as trading has turned mixed late-Monday. One player in the options market seems to be thowing in the towel on hopes for a rally in the chipmaker and sold 43,000 August 28 calls on Intel at 23 cents per contract. The hefty block of calls probably offsets a position opened last week when 43,000 were bought for 47 cents (see 5/29 color). The inital trade was tied to 990K shares at $26.13. The stock is down 4.4 percent since that time.
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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.