Intel Stock Eyes 5th-Straight; Call Traders Respond

INTC is fresh off is best day since November

Digital Content Manager
Jul 9, 2024 at 10:39 AM
facebook X logo linkedin


Intel Corp (NASDAQ:INTC) is up 0.5% to trade at $34.17 at last check, pacing for its fifth-straight daily gain after nabbing its best single-day percentage gain since November in the previous session. Shares are also trading at their highest level since April and set to close above the 80-day moving average for the first time in over three months. For 2024, INTC still carries a 31% deficit.

Analysts remain skeptical on Intel stock, with 28 of 34 analysts in coverage calling it a "hold" or worse. In other words, there is still ample room for upgrades among the brokerage bunch.

Options bulls are blasting the stock today, with 166,00 calls exchanged so far -- eight times the intraday average volume -- compared to only 29,000 puts. The most popular contract is the weekly 7/12 35-strike call, with new positions being opened there.

 

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.


Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!