Intel Corporation closed at USD 97.06, gaining 2.13%. Recent large options trades in INTC show significant directional interest, with a notable $6.80 million long-dated call purchase and a substantial $5.19 million premium-collecting double put sale, indicating a mix of bullish conviction and premium harvesting strategies.
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Options Indicators
INTC’s implied volatility is 107.23%, and with an IV percentile of 99.60%, current option volatility is firmly in an elevated regime, indicating that options are priced expensively versus the stock’s recent historical range. The IV/HV ratio of 1.45 further suggests implied volatility is running well above realized volatility, meaning the options market is embedding a substantial premium for expected movement. The Call/Put volume ratio is 2.02.
Large Trades
A CALL buy worth $6.80 million was the largest displayed trade, with 4,000 contracts bought on the January 15, 2027 $120.00 call. With INTC referenced at $97.06, this strike is out of the money, so the buyer is positioning for a meaningful upside move over a long-dated horizon. The transaction is clearly bullish and reflects a directional bet that Intel can rally well above current levels before expiration, with the premium outlay indicating willingness to pay for convex upside exposure rather than using a defined-risk spread structure.
A same-direction double PUT sale worth $5.19 million was the other highlighted trade, structured as a premium-collecting combination with a mildly bearish-to-neutral tone. The trader sold 1,953 January 15, 2027 $90.00 puts and simultaneously sold 1,953 November 20, 2026 $80.00 puts, both out of the money versus the $97.06 reference price, taking in a net credit. This type of short-put combination is typically used to harvest premium while expressing a view that the stock is unlikely to break materially below those lower strike levels, though the downside obligation from naked put selling gives it a cautious, risk-taking profile rather than an outright bullish upside chase.
Overall, large-trade sentiment in INTC leaned bullish, with total bullish flow of $15.93 million versus $8.21 million in bearish flow, for a net difference of $7.72 million to the upside. The directional judgment is therefore clearly bullish, supported by the dominance of call buying in larger premium terms, especially in longer-dated out-of-the-money strikes that suggest investors are targeting substantial upside rather than just short-term trading noise. While there was some bearish or neutral-to-bearish activity, including put-selling structures and bearish spreads, the aggregate flow still points to a market tone that is more constructive than defensive.
Strategy Reference
For a premium seller preferring low assignment probability, selling the November 20, 2026 $80.00 put is a candidate; for defined risk, a bull put spread using the $80.00/$75.00 strikes could be considered to limit margin requirement.
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