Options Market Statistics: Intel Stock Falls as China Pushes Telecoms to Drop Foreign Chips, Options Pop
$Intel(INTC)$ shares fell by 5.16%, closing at $35.69. Its options trading volume was 0.43 million. Call contracts account for 54% of the total trading volume. The most traded calls are contracts of $39 strike price that expire on Apr. 19th. The total volume reaches 14,694 with an open interest of 10,770. The most traded puts are contracts of a $37 strike price that expires on Apr. 12th; the volume is 16,441 contracts with an open interest of 15,605.
Chinese officials issued the directive earlier this year for the telecom systems to replace non-Chinese core processors by 2027, the Journal reported, citing people familiar with the matter. The report said the mandate would impact $Advanced Micro Devices(AMD)$ and Intel. China accounted for 27% of Intel's revenue in 2023, making it the company's biggest market.
Chinese telecom carriers' procurements show they are switching more to domestic alternatives, a move made possible in part because local chips' quality has improved and their performance has become more stable, the people said.
$JPMorgan Chase(JPM)$ shares fell by 6.47%, closing at $182.79. Its options trading volume was 0.42 million. Call contracts account for 63.2% of the total trading volume. The most traded calls are contracts of $187.5 strike price that expire on Apr. 12th. The total volume reaches 23,194 with an open interest of 124. The most traded puts are contracts of a $182.5 strike price that expires on Apr. 12th; the volume is 15,750 contracts with an open interest of 2,897.
JPMorgan Chase's profit beat estimates in the first quarter, but its shares fell 6% after forecasts for interest income fell short of analysts' expectations on Friday.
The largest U.S. lender slightly increased its estimate for net interest income (NII), or the difference between what a bank earns on loans and pays out for deposits. But investors wanted more, hoping that the bank would reap greater benefits from a prolonged period of higher interest rates.
CEO Jamie Dimon in a statement reiterated his cautious view on "a number of significant uncertain forces" that could weigh on the economic outlook, including "unsettling" global conflicts, persistent inflationary pressure and quantitative tightening.
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