Intel closed at USD 92.09, rising 4.36% from the previous close.
Large options trades pointed to a decisive bullish bias. A single $2.99 million long-dated call purchase at the $92.50 strike dominated flow, while a modest $53,800 put buy at the $87.00 strike added a light defensive overlay. With implied volatility near the low end of its own historical range, the aggressive call accumulation stood out as a strong conviction signal rather than a short-term volatility play.
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Options Indicators
INTC’s implied volatility stands at 62.00%, while its IV percentile is 21.51%, indicating that although absolute IV is not low, it sits near the lower end of its own historical range. In other words, current option pricing is relatively cheap and volatility conditions are on the softer side versus where INTC options have traded in the past. With the IV/HV ratio at 1.11, implied volatility is only modestly above realized volatility, suggesting the market is not applying an especially aggressive premium to near-term option prices.
The Call/Put volume ratio is 2.12.
Large Trades
A CALL buy worth $2.99 million was the standout large trade, with investors purchasing 2,800 contracts of the $92.50 call expiring November 20, 2026. With INTC referenced at $92.09, this strike sits slightly out of the money, making it a bullish directional position that seeks upside over a long-dated horizon while limiting risk to the premium paid. The scale and maturity of the trade suggest conviction that Intel can move meaningfully above the current share price over time, rather than a short-term speculative punt.
A PUT buy worth $53,800 was also recorded, consisting of 1,736 contracts of the $87.00 put expiring August 28, 2026. This strike is out of the money versus the $92.09 reference price, so the position reflects a bearish view or downside hedge aimed at protection if shares weaken toward or below $87.00 by expiration. Even so, its much smaller size indicates that downside concern was present but modest relative to the dominant bullish call accumulation. Overall, the large-trade flow was clearly bullish, driven overwhelmingly by aggressive call buying and only lightly offset by a small out-of-the-money put purchase, pointing to a market stance that expects upside in INTC while maintaining limited defensive interest.
Strategy Reference
For traders who prefer a defined-risk approach without posting large margin, a bull call spread using the $92.50 long call and selling a higher strike, such as the $100.00 call expiring November 20, 2026, can lower upfront cost while capping maximum gain; alternatively, premium sellers may consider the $80.00 put, which is roughly 13% below spot and offers a low assignment probability given the modest IV environment.
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