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INTC

Intel CorporationClose $120.61EOD only
Max Pain
$91.00
Next expiry May 15, 2026
Expected Move
±$9.20
7.6% from close
Price Gap
-29.61
Distance to max pain
IV Rank
89
High premium
P/C OI
1.19
Slightly put-heavy
Consensus
6.5/10
Consensus signal
Published snapshot: May 12, 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 12, 2026 close
INTC Directional Report
Analysis based on market close May 13, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Outlook

INTC near pinning levels with strong dealer gamma ($51.5M) supporting a tight range. Spot above max pain ($95) but VIX 18 suggests elevated vol. Bias neutral-bullish for near term, expecting consolidation within 2d guardrails $113-127.

Confidence:
8 / 10
Base 5; +2 GEX/flow aligned; +1 GEX positive (pinning); -1 spot 26.6% from MP; +1 VIX 18
Supports: Positive GEX ($51.5M), low VIX, short-term guardrails tight
Conflicts: Spot well above max pain, mixed options flow
📌Gamma pinning near $110 from put OI concentration
📊63.5% dealer delta at +232M shares long
⚠️Vol is high (regime) with VIX 18, move may be shallow

Regime Classification

Vol Regime
High
IV in high regime vs history; VIX 18 supports elevated vol environment
Gamma Regime
Pinning
Positive gamma ($51.5M) with flip near $110 from 45,956 put OI; pinning expected
Flow Regime
Mixed
Mixed net premium; P/C ratio not extreme, no strong directional bias from flow alone
Spot vs Max Pain
Above
Spot ~120 is 26% above max pain $95, creating potential drag
Thesis duration: Event-specific — Near-term expiry concentration (5/15) and gamma flip proximity drive a short-term thesis

Price Range Forecast

Next 2 days
$113.24$127.34
2d guardrails $113-127; gamma support at ~$110 limits downside
Next 1 week
$105.99$134.59
1w range $106-135; max pain $109 on 5/22 acts as magnet
Next 2 weeks
$102.74$137.84
2w range $103-138; resistance at $138 is solid; spot may drift lower toward gamma flip

Key Levels

Max pain pins: $95 (2026-05-15); $109 (2026-05-22); $100 (2026-05-29)
EM guardrails: 2d $113.24/$127.34; 1w $105.99/$134.59
Support: $110.00 · $102.74
Resistance: $137.84
Gamma flip: ~$110.00 — Approx — based on put OI concentration of 45,956 (8.6% below spot)
Structural: Support: $110 (gamma flip), $102.74 (2w low). Resistance: $137.84 (2w high). Key expiries: 5/15 MP $95, 5/22 MP $109, 5/29 MP $100. 2d EM: $113.24/$127.34. 1w EM: $105.99/$134.59.

Dealer Positioning (GEX/DEX)

GEX: $+51.5M

DEX: +232.4M shares

Gamma flip: ~$110 (Approx — based on put OI concentration of 45,956 (8.6% below spot))

NTM gamma: GEX +$51.5M (positive gamma). Flip near $110 from 46K put OI. DEX +232M shares (long delta).

IV Analysis

IV vs VIX: IV is high relative to VIX (18), implying rich options premium; elevated vol environment may suppress large moves.

Term structure: Likely contango due to short-term expiries; front-end vol elevated by earnings/events.

Skew: Put skew elevated near $110; consider selling puts below gamma flip for premium decay.

Flow Analysis

Net premium: Net call premium $206.6M, but P/C vol ratio ~1.0 and OI ratio 1.2 put-skewed showing mixed sentiment.

Directional prints: 90.8 call 121 OTM 2026-05-22 — Vol/OI 23x, extreme bullish flow, likely aggressive buy. 88.3 put 116 OTM 2026-05-22 — Vol/OI 12.8x, bearish position or hedge alongside call buying.

Unusual: 122.7 put 92.5 OTM 2026-05-15 — Deep OTM put, vol/OI 9.7x, high IV, speculative bearish tail.

Risks & Catalysts

!Spot far from max pain could trigger mean reversion
!Dealer gamma flip at $110 if broken accelerates selling
!Vol expansion from macro or sector shock
!Low liquidity in deep OTM strikes distorts signals

Strategy Viability

StrategyEdgeBest SetupPrimary Risk
Put credit spreadModerate
Sell 2026-06-18 $110.00/$100.00 put spread
Why now: Dealer gamma supports range, VIX elevated favors premium sale.
Sharp drop below short put strike breaks support.
Bull call spreadModerate
Buy 2026-06-18 $120.00/$135.00 call spread
Why now: Unusual call flow suggests bullish bias; buy cheap call spread.
Stock stays flat or declines, premium lost.
Iron condorModerate-Weak
Sell 2026-06-18 $110.00/$100.00 put wing and $145.00/$160.00 call wing
Why now: Dealer gamma supports range; elevated vol offers rich premium.
Breakout beyond wings leads to loss.

Top Plays

#1
Range-Bound Premium Capture
Sell 2026-06-18 $110.00/$100.00 put wing and $145.00/$160.00 call wing
Sell iron condor to collect premium betting on range-bound price action.
Why this play: Best aligns with thesis of consolidation within guardrails; elevated VIX offers rich credit.
Credit: $5.06-$6.19
Max loss: $8.81
BE: 103.81 / 151.19
Mgmt: Close if either short strike breached; aim for 50% max profit.
Neutral to slightly bullish traders seeking income.
#2
Defensive Put Credit Spread
Sell 2026-06-18 $110.00/$100.00 put spread
Sell put spread at key support to collect premium with defined risk.
Why this play: Supports range thesis with invalidation below guardrails; premium sale in elevated vol.
Credit: $3.11-$3.80
Max loss: $6.20
BE: $106.20
Mgmt: Roll or close if spot approaches $110; target 50% of credit.
Cautious bulls wanting income with tail risk hedge.
#3
Bull Call Spread on Unusual Flow
Buy 2026-06-18 $120.00/$135.00 call spread
Buy call spread to leverage bullish flow with defined risk.
Why this play: Unusual call flow suggests upside, but thesis only slightly bullish short term; lower rank.
Debit: $4.73-$5.78
Max loss: $5.78
BE: $125.78
Mgmt: Exit if spot loses $110; take profit at $130 or before earnings.
Aggressive traders expecting short-term breakout.

Watchlist Triggers

Entry Triggers
IFIF spot holds between $113.24 (2d lower EM) and $127.34 (2d upper EM) with VIX above 15 → THEN sell iron condor (strat3) for premium upto $6.19 credit
Adjustment Triggers
ADJIF spot declines to $112 (approaching gamma flip $110) → THEN close put credit spread (strat1) to lock in remaining credit
Exit Triggers
EXITIF spot breaks below $110 (gamma flip) → THEN exit all bullish positions (strat1 and strat2)

Tactical Summary

Neutral-bullish bias expects consolidation within $113-$127 guardrails. Dealer gamma supports $110 pivot. Prefer selling iron condor (strat3) for income if range holds. If spot nears $112, defend put credit spread (strat1). Below $110 invalidates; exit all bullish plays.
How to Use These Reports
This directional reflects the market close on May 13, 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.