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Most Active Options Update: Intel Corporation (INTC)

Intel Corporation trader ponies up half a million dollars to bet on a move higher

by 2/7/2014 2:40 PM
Stocks quoted in this article:

The 20 stocks listed in the table below have attracted the highest total options volume during the past 10 trading days. Names highlighted are new to the list since the last time the study was run, and data is courtesy of Schaeffer's Senior Quantitative Analyst Rocky White. One name of notable interest this afternoon is Intel Corporation (NASDAQ:INTC).


Since tagging an annual high of $27.12 on Jan. 15, Intel Corporation has shed roughly 11% to linger near $24.15, mostly due to an earnings-induced slide. However, the stock has been on the mend in recent sessions, after dipping south of its lower Bollinger Band earlier this week -- an indication INTC had entered oversold territory. One bold options player in today's session thinks the equity has more fuel in its tank, and forecast a longer-term move to levels not seen since May 2012.

In afternoon trading, one massive block of 21,806 July 28 calls changed hands at the ask price of $0.24 apiece, pointing to buyer-driven activity. Additionally, volume outpaces current levels of open interest, making it safe to assume that new positions were initiated. Given the length of time that INTC has been churning south of the $28 mark, delta for the call is docked at 0.15, suggesting a slim 15% chance the option will be in the money upon expiration. Should INTC fail to topple the strike price over the next five-plus months, the most today's call buyer stands to lose is the initial cash outlay, or $523,344 (the number of contracts, times the premium paid, times 100 shares).

On the fundamental front, Intel Corporation (NASDAQ:INTC) made headlines earlier this week after announcing it will adjust compensation packages for senior executives. Additionally, Intel revealed yesterday that its board of directors has brought on five new corporate vice presidents.


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