Intel closed at USD 116.19, down 2.63 percent.

Large options activity highlighted opposing views on Intel’s long-term trajectory. A single call sale at the $120 strike generated $4.20 million in premium, suggesting a trader expects upside to remain capped. Meanwhile, a $2.65 million purchase of far out-of-the-money $180 calls revealed strong long-term bullish conviction. Overall flow leaned moderately bullish, with repeated put selling and selective call buying indicating investors willing to own downside risk rather than brace for a major decline.

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Options Indicators

Intel’s implied volatility is 66.16%, and its IV percentile is 36.65%, which places current volatility in a neutral historical zone rather than an elevated one. Combined with an IV/HV ratio of 0.90, options do not appear aggressively priced relative to recent realized movement, suggesting premiums are relatively reasonable instead of notably expensive. The Call/Put volume ratio is 1.31.

Large Trades

A call sale worth $4.20 million was the largest displayed trade, with 2,200 contracts sold at the 120.0 strike expiring on 2027-03-19. With Intel referenced at $116.19, this call was out of the money at the time of the trade, making it a bearish or at least upside-capping position. Strategically, selling an out-of-the-money long-dated call at this strike suggests the trader was expressing a view that the stock’s upside may remain limited below $120.0 over that horizon, while also seeking to collect premium from elevated optionality rather than paying for bullish exposure.

A call purchase worth $2.65 million was the second highlighted trade, with 4,500 contracts bought at the 180.0 strike expiring on 2027-03-19. This contract was also out of the money versus the $116.19 reference price, but unlike the call sale above, this was a clearly bullish directional bet with convex upside exposure. The buyer committed premium to a far-out long-dated strike, indicating a willingness to position for a substantial upside move over time, likely reflecting a high-conviction view that Intel could re-rate materially if longer-term fundamentals or sentiment improve. Overall, the large-trade flow leans moderately bullish: while the biggest single print was a bearish call sale that capped upside, the broader block activity showed repeated put selling alongside selective call buying, a pattern more consistent with investors willing to own downside risk and position for stabilization or appreciation rather than bracing for a major decline.

Strategy Reference

For a seller seeking low assignment probability, the March 2027 $140 call offers a wider buffer above the $120 cap while still collecting premium from Intel’s elevated long-dated optionality; alternatively, a bull put spread using the $100/$90 strikes may generate income with defined risk if one prefers not to post a large uncovered margin requirement.