Intel closed at USD 56.28, up 7.71% from the prior session.
The options tape featured a meaningful mix of large prints: the biggest was a $2.85 million put purchase targeting a move below $52.50 through late 2026, while a $1.33 million call buy on the February 2027 $65.00 strike expressed a longer-dated bullish view. Combined with repeated premium-collecting short-put activity and bullish put spreads, the institutional flow leans moderately bullish even though the single largest trade was a downside hedge.
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Options Indicators
Intel’s implied volatility is 79.66%, and with an IV percentile of 72.91%, current option volatility sits in an elevated range, indicating that Intel’s options are priced expensively versus their own recent history. Even though the IV/HV ratio is 0.61, the overall takeaway is that implied volatility remains on the high side, so option premiums currently embed relatively rich volatility expectations.
The Call/Put volume ratio is 1.53.
Large Trades
A put purchase worth $2.85 million was the largest displayed trade, consisting of 7,250 INTC December 18, 2026 $52.50 puts bought outright. With the stock reference at $56.28, this strike sits out of the money, making it a moderately bearish downside bet or portfolio hedge that targets weakness over a long-dated horizon. The buyer paid meaningful premium for convex downside exposure below $52.50, which suggests caution on INTC’s medium- to long-term price path rather than a short-term volatility sale.
A call purchase worth $1.33 million was the other featured block, consisting of 2,500 INTC February 19, 2027 $65.00 calls bought outright. With shares at $56.28, the strike is out of the money, so this is a clearly bullish position looking for upside through a longer-dated expiry. Strategically, it reflects willingness to fund premium for leveraged upside participation if INTC can rally materially above $65.00, signaling constructive long-term expectations rather than income collection.
Overall, the bulk-order flow leans moderately bullish. Even though the single biggest displayed trade was a sizable bearish put buy, the broader large-trade tape shows more persistent bullish positioning through repeated short-put premium collection, bullish put spreads, and multiple upside call purchases, indicating traders are generally more comfortable expressing a supportive-to-constructive view on INTC while still keeping selective downside hedges in place.
Strategy Reference
For a defined-risk structure that avoids posting large margin, consider a bull put spread using the December 2026 expiry, such as selling the $45.00 put and buying the $40.00 put, which aligns with the supportive flow while keeping assignment probability lower than selling the $52.50 strike outright.