Home Options INTCReports

INTC

Intel CorporationClose $118.96EOD only

Max Pain

$109.00

Next expiry May 22, 2026

Expected Move

±$7.97

6.7% from close

Price Gap

-9.96

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.09

Balanced positioning

Consensus

7.0/10

Bullish tilt

Published snapshot: May 20, 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 20, 2026 close

INTC Directional Report

Analysis based on market close May 20, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

INTC is in a bullish regime with strong dealer gamma support and positive flow, but spot is 9.1% above max pain, creating pin vulnerability. Thesis: bullish bias with caution near resistance.

Confidence:

8 / 10

Base 5; +2 GEX/flow aligned; +1 GEX positive (pinning); -1 spot 9.1% from MP; +1 VIX 17

Supports: Bullish flow, positive dealer gamma, pinning support at $109
Conflicts: Spot far above max pain, resistance at $136.73, VIX still moderate

📈Dealer gamma positive (+$78.8M) supports pinning

⚠️Spot 9.1% above max pain risk mean reversion

📊Bullish flow reinforces upside bias

Regime Classification

Vol Regime

High

IV elevated; high vol regime reflects recent earnings/events.

Gamma Regime

Pinning

Positive GEX +$78.8M indicates pinning near $109-$105 strikes.

Flow Regime

Bullish

Bullish net premium, elevated call activity.

Spot vs Max Pain

Above

Spot above max pain ($109) by 9.1%, suggests upward pressure but risk of pull to MP.

Thesis duration: Event-specific — Multiple max pain pin levels across weekly expiries suggest event-driven pinning dynamics.

Price Range Forecast

Next 2 days

$110.98$126.93

Resistance at $126.93; support $110.98

Next 1 week

$105.61$132.31

Resistance at $132.31; support $105.61

Next 2 weeks

$101.18$136.73

Resistance at $136.73; support $101.18

Key Levels

Max pain pins: $109 (2026-05-22); $104 (2026-05-29); $105 (2026-06-05)

EM guardrails: 2d $110.98/$126.93; 1w $105.61/$132.31

Support: $109.00 · $101.18

Resistance: $136.73

Gamma flip: ~$90.00 — Approx — based on put OI concentration of 22,697 (24.3% below spot)

Structural: Max pain pins: $109 (May22), $104 (May29), $105 (Jun5); EM guardrails: 2d $110.98-$126.93, 1w $105.61-$132.31; support $109/$101.18; resistance $136.73; gamma flip ~$90

Dealer Positioning (GEX/DEX)

GEX: $+78.8M

DEX: +206.4M shares

Gamma flip: ~$90 (Approx — based on put OI concentration of 22,697 (24.3% below spot))

NTM gamma: GEX +$78.8M, DEX +206.4M shares; gamma flip at ~$90

IV Analysis

IV vs VIX: IV is rich vs VIX (17.44) given high vol regime; implied vol elevated relative to index.

Term structure: Front-month elevated with slight backwardation; event kinks around weekly expiries.

Skew: Put skew elevated reflecting downside hedging; consider call spreads to capture upside.

Flow Analysis

Net premium: Net premium positive $304.7M, P/C vol 0.50 bearish, OI 1.09 bearish.

Directional prints: 92.8 call 195 OTM 2026-07-17 — Vol 21.7k vs OI 1.7k; likely bought calls, upside speculation. 93.5 call 119 OTM 2026-05-22 — Vol 17.1k vs OI 2.0k; likely bought calls, bullish.

Unusual: 84.7 put 118 OTM 2026-05-29 — Vol 2.7k vs OI 125; bought puts, hedge or bearish. 91.3 put 118 OTM 2026-05-22 — Vol 8.7k vs OI 641; bought puts, near-term downside. 88.2 put 107 OTM 2026-06-05 — Vol 3.3k vs OI 252; bought puts, downside.

Risks & Catalysts

!Mean reversion to max pain ($109)

!Break below gamma flip at $90

!Spike in VIX beyond 20

!Negative flow shift

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate	Buy 2026-07-17 $120.00/$125.00 call spread Why now: Defined-risk debit spread benefits from upside move to $125, with max profit at expiration. 58 DTE covers pre-earnings drift.	If spot stays flat or declines, entire premium lost. Max pain pin risk at $109.
Put credit spread	Moderate-Strong	Sell 2026-07-17 $110.00/$105.00 put spread Why now: Sell put at $110, buy $109 put for 1-point width. Collect premium with high probability of success if spot stays above $110.	If spot drops below $109, max loss is width minus premium. VIX spike could widen loss.
Bullish risk reversal	Moderate	Buy 2026-07-17 $125.00 call / sell 2026-07-17 $115.00 put Why now: Buy $125 call, sell $115 put to fund call premium. Net zero or small debit. Benefits if spot rises; limited downside if put assigned.	If spot rallies moderately below $125, call may not profit. Sharp drop below $115 leads to assignment risk. Pin risk near max pain.

Top Plays

Put Credit Spread

Sell 2026-07-17 $110.00/$105.00 put spread

Sell $110 put, buy $105 put for credit, benefiting from spot staying above $110.

Why this play: Highest probability of success given bullish bias but pin vulnerability; short put at $110 above gamma support.

Credit: $2.00-$2.45

Max loss: $2.55

BE: $107.55

Mgmt: Close if spot breaks below $110 or before earnings; take profit at 50% of max gain.

Cautious bulls seeking high win rate with defined risk.

Bull Call Spread

Buy 2026-07-17 $120.00/$125.00 call spread

Buy $120/$125 call spread for debit, profiting if spot rises above $123.17 by expiration.

Why this play: Defined-risk upside play with max profit at $125; aligns with pre-earnings drift and call flow.

Debit: $1.78-$2.17

Max loss: $2.17

BE: $122.17

Mgmt: Roll up or close if spot nears $125 early; exit if spot drops below $109.

Traders expecting moderate upside with capped risk.

Bullish Risk Reversal

Buy 2026-07-17 $125.00 call / sell 2026-07-17 $115.00 put

Buy $125 call, sell $115 put for near-zero cost; profits if spot rises, but put may be assigned if spot falls.

Why this play: Leverages bullish flow; call buying at $125 funded by put sale; unlimited upside but large downside risk.

Debit: $0.34-$0.41

Max loss: $115.00

BE: $115.00

Mgmt: Monitor closely; close if spot approaches $115 or before earnings; take profit on call if spot spikes.

Aggressive bulls with high conviction and margin to handle assignment.

Watchlist Triggers

Entry Triggers

IFSpot >110 and above 109 support → Enter put credit spread sell 110 put / buy 105 put

IFSpot >120 with momentum toward 125 → Enter bull call spread buy 120 call / sell 125 call

IFSpot >115 and bullish conviction → Enter bullish risk reversal buy 125 call / sell 115 put

Exit Triggers

EXITSpot breaks below 109 or before earnings → Close all positions

Tactical Summary

Bullish bias with caution near resistance 136.73. Enter put credit spread above 110 support; bull call spread above 120; risk reversal above 115. Exit if spot breaks 109 or ahead of earnings on 7/23.

How to Use These Reports

This directional reflects the market close on May 20, 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.