Intel (INTC) adds 54 cents to $22.27 and a 6800-lot of Oct 21.5 puts trades on the chipmaker for 25 cents per contract when the market was 23 to 25 cents. It’s possibly closing. The INTC Oct 21.5 put option is 3.3 percent OTM with 21,837 in open interest and expiring at the end of the week. Oct 21 and 22 puts also seeing interest, as are Nov 21 and Jan 22.5 calls. 20K calls and 24K puts already traded on the stock. The company reports earnings after the closing bell today. Shares gained 3.3 percent on 7/18 when earnings were last reported, but are down 15 percent since that time. Oct 22 straddle currently trades at 4.2 percent of spot.
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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.