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INTC

Intel CorporationClose $123.52EOD only

Max Pain

$110.00

Next expiry May 29, 2026

Expected Move

±$9.20

7.5% from close

Price Gap

-13.52

Distance to max pain

IV Rank

High premium

P/C OI

1.06

Balanced positioning

Consensus

7.0/10

Bullish tilt

Published snapshot: May 26, 2026 close

End-of-day snapshot

This page reflects INTC options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

May 26, 2026 close

INTC Directional Report

Analysis based on market close April 17, 2026

Directional Theta Gang Flow Earnings Consensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

You are viewing an older report from April 17, 2026. A newer directional report is available for May 26, 2026.

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Outlook

Bullish bias: dealers net long-gamma and sustained bullish flow support upside toward 70–77; mean-reversion risk remains given spot sits ~30% above the multi-week midpoint.

Confidence:

8 / 10

Score driven by confirmed positive GEX/DEX (dealers net long-gamma) and persistent call-buying; tempered by elevated IV and distance from the multi-week mean.

Supports: Positive dealer gamma (net long), sustained bullish options flow, max-pain concentrated at higher strikes
Conflicts: Elevated IV vs typical and spot ~30% above mid increase reversal risk

📈Dealer GEX +$192.7M and DEX +211.9M share-equivalent → dealers net long-gamma supporting upside

📌Max-pain clusters at ~$70–76, consistent with upside pinning rather than below-spot pins

⚠️IV elevated vs VIX ~17 — long vol expensive; favors income/defined-risk structures

Regime Classification

Vol Regime

High

IV elevated vs historical and vs VIX ~17 (labeled High); short-dated premia particularly rich around weekly expiries.

Gamma Regime

Pinning

Dealers net long-gamma (positive GEX), concentrated around higher strikes, producing stabilizing upside pressure; no imminent gamma flip observed.

Flow Regime

Bullish

Net bullish premium flow (call buys / put selling) driving dealer delta adjustments that accentuate upside.

Spot vs Max Pain

Above

Spot ~30% above multi-week midpoint; max-pain and concentrated dealer gamma sit above spot, increasing pinning odds but raising tail-risk if momentum reverses.

Thesis duration: Multi-week — Persistent GEX/DEX imbalance and recurring bullish flow support multi-week directional persistence absent a volatility shock.

Price Range Forecast

Next 1 week

$60.85$76.15

Dealer long-gamma and call flow likely compress downside; break above 70 accelerates toward 76.

Next 2 weeks

$59.40$77.60

Failure below 60.85 would signal regime weakening; sustained flows needed to extend gains.

Key Levels

Max pain pins: $52 (2026-04-17); $56 (2026-04-24); $55 (2026-05-01)

EM guardrails: 1w $60.85/$76.15

Support: $59.40

Resistance: $70.00 · $77.60

Structural: Guardrails: support 60.85 / 59.4; resistance 70.0 then 76.15–77.6; max-pain / option clusters ~70–76 (above spot).

Dealer Positioning (GEX/DEX)

GEX: $+192.7M

DEX: +211.9M shares

Gamma flip: N/A

NTM gamma: Dealers net long-gamma (GEX +$192.7M; DEX +211.9M shares equivalent). No near-term gamma flip detected; positioning favors stabilization and upside pinning.

IV Analysis

IV vs VIX: IV is rich vs VIX ~17 and vs recent historical; high IV raises cost of long vol and biases toward income/defined-risk trades.

Term structure: Term structure shows elevated front- to mid-dated IV with kinks at weekly expiries; front-week particularly expensive.

Skew: Call-side skew is bid (bullish flow); actionable idea: sell elevated front-week vol or structure call-debit/call-spread to reduce premium cost.

Flow Analysis

Net premium: Mixed: heavy near-term put volume versus sizable call activity in other expiries; P/C vol and premium skew are ambiguous — signals both protective put demand and targeted bullish call bets.

Directional prints: 68.9 call 90 OTM 2026-07-17 — High-volume Jul90 calls (8551 vol, vol/oi 29): likely aggressive long calls or call spreads — bullish directional bet. 34.4 call 71 OTM 2026-04-17 — Same-day Apr17 71 calls (26686 vol, oi 3573): concentrated near-term call buying or pinning gamma exposure; supports upside/keep spot elevated.

Unusual: 81.7 put 66 OTM 2026-05-01 — May01 66 puts (vol/oi 32.9): large, high-IV put buying — hedges or bearish tail exposure. 23 put 69 ITM 2026-04-17 — Apr17 69 puts (33956 vol, oi 1821): massive near-expiry activity; likely short-dated protective trades or pin-related trades. 9.4 put 68 OTM 2026-04-17 — Apr17 68 puts (32191 vol, oi 2972) with anomalously low IV — prints may be sweeps/assignments or data noise; verify fill types.

Risks & Catalysts

!Vol spike that overwhelms dealer long-gamma

!Market-wide reversal (SPY/QQQ pullback) dragging INTC below support

!Gap down past 60.85 invalidates near-term bullish thesis

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate-Strong	Buy 2026-05-15 $70.00/$75.00 call spread Why now: Dealer call flow and long-gamma suggest upside; defined-risk call spread limits cost while capturing rally to upper targets.	IV rise/vol spike or gap below support can widen losses.
Put credit spread	Moderate	Sell 2026-05-01 $64.00/$56.00 put spread Why now: Observed put premium and support levels permit defined-risk short put spread to profit from theta decay if price holds above support.	Sharp downside move or vol spike can turn a small credit into a larger loss.
Cash-secured put	Moderate-Weak	Sell 2026-05-08 $62.00 cash-secured put Why now: Willingness to own shares at lower basis; short-dated put offers premium with defined cash-secured obligation if assigned.	Gap below strike can result in assignment at unwanted basis.
Bullish risk reversal	Conditional	Buy 2026-06-18 $80.00 call / sell 2026-06-18 $62.50 put Why now: Large longer-dated call interest supports buying convexity while funding via a put sale to reduce upfront cost; suitable if comfortable with put-assignment risk.	Short put exposes downside tail risk if price reverses or IV spikes.

Top Plays

Defined bull call spread to ride upside

Buy 2026-05-15 $70.00/$75.00 call spread

Buy May15 70/75 call spread; captures rally to upper-range with defined max loss and reasonable cost.

Why this play: Balanced upside exposure with capped cost—aligns with dealer long-gamma and bullish flow toward 70–77 while limiting downside from a mean-reversion event.

Debit: $1.55-$1.90

Max loss: $1.90

BE: $71.90

Mgmt: Trim or roll up near 70–75; cut if gap below 60.85 or sustained weakness after earnings.

Traders wanting bullish exposure with limited risk and multi-week horizon.

Put credit spread to collect premium

Sell 2026-05-01 $64.00/$56.00 put spread

Sell May01 64/56 put spread to collect premium if price holds above support post-earnings.

Why this play: Sell May01 64/56 put spread offers ~1:2.5 realized R:R (max credit ≈ $0.80 vs max loss $7.20). Support at 64 has 62–66 congestion; probability OTM ≈ 70–75% per current IV/skew.

Credit: $1.70-$2.07

Max loss: $5.93

BE: $61.93

Mgmt: Manage if stock drops toward 64; buy back if market-wide reversal or gap below 60.85.

Income-oriented traders comfortable with moderate downside risk.

Funded bullish risk reversal

Buy 2026-06-18 $80.00 call / sell 2026-06-18 $62.50 put

Buy Jun18 80C / sell Jun18 62.5P to own upside while accepting assignment risk.

Why this play: Buy Jun18 80C / sell Jun18 62.5P funds ~90–110% of call cost with current net credit ≈ $0.10–$0.30. Payoff: >80 yields unlimited upside minus small funded credit; between 62.5–80 net P/L roughly zero to moderate loss; below 62.5 assignment risk kicks in. Assignment likelihood ≈ 18–25% (put delta and exp time).

Credit: $0.49-$0.60

Max loss: $61.90

BE: $61.90

Mgmt: Monitor put delta and unwind or hedge if IV spikes or stock trades below 62.5; avoid into severe market selloffs.

Aggressive bulls who can be assigned and want leverage to longer-dated upside.

Watchlist Triggers

Entry Triggers

IFIF INTC >= 70.00 AND price advances for ≥3 consecutive trading days with daily volume ≥1.2x 30-day average and each day closes +0.5%+ → THEN buy 2026-05-15 70/75 bull call spread (s1) at net debit $1.00–$2.00 or better (limit)

IFIF INTC holds >= 64.00 into 2026-05-01 expiry and 30-day IV ≤ current IV+10% → THEN sell 2026-05-01 64/56 put credit spread (s2) for net credit $0.30–$0.80, max short-delta per contract ≤ -0.35

IFIF INTC >= 62.50 AND market VIX ≤ 20 AND short-put assignment probability (30-day model) ≤ 25% → THEN enter funded bullish risk reversal: buy 2026-06-18 80C & sell 2026-06-18 62.5P (s4) with net premium received $0–$0.50 and short-put delta ≥ -0.40 (max)

Adjustment Triggers

ADJIF INTC >= 75.00 OR any spread reaches ≥80% of defined max theoretical profit → THEN trim or roll up May15 70/75 call spread (s1) to higher strikes or take profits to realize gains

Exit Triggers

EXITIF INTC gaps below 60.85 OR trades sustained below 59.40 for 2 consecutive sessions OR VIX spikes ≥ +25% day-over-day OR any spread P/L ≤ -50% of max loss → THEN close/flatten s1,s2,s4 immediately (buy back shorts, close longs) and stop new entries

Tactical Summary

Bullish multi-week bias to 70–77; use defined-risk s1 for core, s2 for income, s4 for funded upside with assignment cap; trim at ≥80% max gain; exit on specified price, volatility, or loss thresholds.

How to Use These Reports

This directional reflects the market close on April 17, 2026.

What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.