INTC Rises After Receiving License to Supply Huawei

The equity is down over 16% this year, however

Digital Content Manager
Sep 22, 2020 at 10:52 AM
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The shares of Intel Corporation (NASDAQ: INTC) are up 0.2% at $49.83 this morning, after the technology giant received a license from U.S. authorities to continue supplying certain products to China's Huawei Technologies. Before the authorization was issued, the company had been barred from supplying or servicing Huawei, with Washington arguing that the telecom company could hand data to the Chinese government for espionage.

On the charts, the security has been extremely volatile of late. Though shares were initially able to recover from mid-March lows near $43, a post-earnings bear gap later in July knocked the equity to its second worst day ever. Over the last couple of weeks, Intel stock has been trading mostly sideways, struggling with overhead pressure at the $51 mark. Year-to-date, the security carries a 16.7% deficit.  

Despite the stock's technical volatility, calls are popular In the options pits. INTC sports a 50-day call/put volume ratio of 4.19 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits in the 96th percentile of its annual range. This suggests a healthier-than-usual appetite for bullish bets of late. 

Lastly, Intel stock's Schaeffer's Volatility Index (SVI) of 28% sits in just the 11th percentile of all other annual readings, meaning the stock sports attractively priced premiums at the moment. This makes now a good time to weigh in on INTC options. 

 

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