Intel closed at USD 91.00, rising 0.89%.

Options activity showed a clear bullish tilt, with call volume doubling put volume. The session was headlined by a USD 5.89 million long-dated put purchase that injected a note of caution, but this was overwhelmingly offset by aggressive call buying and substantial put selling, signaling that smart money remains firmly constructive on INTC’s forward trajectory.

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Options Indicators

INTC’s implied volatility is 85.05%, and with an IV percentile of 81.27%, current option volatility sits in the elevated zone, indicating options are priced expensively relative to their own recent history. The IV/HV ratio of 1.03 suggests implied volatility is only slightly above realized volatility, so while premiums are rich on a historical percentile basis, they are not dramatically overstretched versus actual underlying movement. The Call/Put volume ratio is 2.03.

Large Trades

A PUT buy worth USD 5.89 million was the largest single-leg trade, with 2,500 contracts purchased at the USD 80.00 strike expiring on 2028-01-21. With INTC referenced at USD 91.00, this put sits out of the money, making it a bearish position that likely reflects either downside speculation over the long term or portfolio protection against a meaningful decline below current levels. Because the buyer paid premium for a long-dated out-of-the-money put, the trade signals willingness to spend substantial capital for convex downside exposure rather than expressing a near-term hedge through closer-to-the-money protection.

A CALL buy worth USD 3.71 million was the second-largest displayed trade, involving 4,999 contracts of the USD 100.00 strike expiring on 2026-09-18. With the stock at USD 91.00, this call is also out of the money, so the position represents a bullish directional wager on upside over a medium-to-longer horizon. The buyer is paying premium for leverage to a move above USD 100.00, suggesting expectations for continued appreciation rather than a defensive posture, and the large size indicates meaningful conviction in a higher forward price path for INTC.

Overall, the large-trade flow points to a bullish bias in INTC. While the biggest individual trade was a sizable bearish put purchase, the broader large-trade activity was dominated by bullish positioning, particularly through repeated put selling and call buying, which typically reflect confidence in downside support and participation in upside potential. Taken together, the tape suggests institutional traders are generally leaning constructive on INTC, with some selective downside protection present but not enough to outweigh the prevailing positive sentiment.

Strategy Reference

For a neutral-to-bullish posture, selling the 2026-09-18 USD 75.00 put, currently deep out of the money, offers a low assignment probability while collecting elevated premium; alternatively, a call debit spread using the long USD 100.00 call against selling a higher strike can reduce cost and margin requirements.