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Most Active Options Update: Intel Corporation (INTC)

Intel Corporation option bulls eye a strong finish to February

by 2/24/2014 1:43 PM
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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).


Intel Corporation has spent the month of February churning south of the $25 mark; in fact, the last time the stock traded north of this area on an intraday basis was Jan. 28. However, one group of option hopefuls today is betting on the equity to reclaim its footing atop this overhead level by week's end.

One of the most active positions in INTC's options pits this afternoon is the weekly 2/28 25-strike call, where the majority of the 6,753 contracts traded have done so on the ask side. Implied volatility has ticked higher, and volume outstrips open interest, pointing to buy-to-open activity.

The options market isn't too confident this bullish scenario will play out, though, as delta for the call is docked at 0.30, suggesting a 30% chance of an in-the-money finish. Should the stock fail to topple the strike price by Friday's close, the most today's call buyers have put on the line is the initial cash outlay. According to Trade-Alert, the volume-weighted average price for the calls is a modest $0.10 apiece.

In today's session, the stock has tacked on 1.3% at last check to linger near $24.73, following a weekend announcement that it has teamed up for an R&D partnership with Alcatel Lucent SA (ADR) (NYSE:ALU). Earlier, Intel Corporation (NASDAQ:INTC) came within a chip-shot of tagging the $25 mark when it hit its intraday high of $24.88 shortly before noon.


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