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INTC

Intel CorporationClose $118.50EOD only

Max Pain

$110.00

Next expiry May 22, 2026

Expected Move

±$4.28

3.6% from close

Price Gap

-8.50

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.08

Balanced positioning

Consensus

6.0/10

Bullish tilt

Published snapshot: May 21, 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 21, 2026 close

INTC Directional Report

Analysis based on market close May 21, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Mixed signals: strong dealer gamma and bullish flow vs spot 7.7% above MP ($110) suggesting pullback risk. Neutral-leaning-bearish short-term, but structural support underpins multi-week bullish. Confidence 6/10.

Confidence:

8 / 10

Base 5, +2 GEX/flow aligned, +1 GEX pinning, -2 spot far from MP, +1 VIX 17

Supports: Strong dealer positive gamma ($93.7M GEX), bullish net option premium flow, spot above MP trend
Conflicts: Spot 7.7% above MP ($110), high IV rich, gamma flip at $90 suggests deep downside risk

📈Dealer GEX $93.7M positive, pinning support at $110-$120

⚠️Spot 7.7% above MP ($110), resistance at $130, pullback likely

Regime Classification

Vol Regime

High

IV elevated vs VIX (16.8), indicating rich premium and high volatility regime

Gamma Regime

Pinning

Positive gamma pinning around $110-$120, dealer hedging supports

Flow Regime

Bullish

Bullish premium flow, net buying pressure

Spot vs Max Pain

Above

Spot at $118.5, MP $110, 7.7% above, significant mean reversion risk. Dealer gamma may be tested.

Thesis duration: Multi-week — Event-specific catalysts absent, structural dealer positioning supports multi-week bullish lean despite short-term pullback risk

Price Range Forecast

Next 2 days

$114.22$122.78

Resistance $122.78, support $114.22; mean reversion likely

Next 1 week

$107.58$129.43

Range $107.58-$129.43, pinning around $110 provides support

Next 2 weeks

$102.88$134.12

Broader range $102.88-$134.12, core support $110 holds

Key Levels

Max pain pins: $110 (2026-05-22); $105 (2026-05-29); $110 (2026-06-05)

EM guardrails: 2d $114.22/$122.78; 1w $107.58/$129.43

Support: $110.00 · $102.88

Resistance: $130.00 · $134.12

Gamma flip: ~$90.00 — Approx — based on put OI concentration of 23,623 (24.1% below spot)

Structural: Support $110 (max pain), $102.88; Resistance $130, $134.12. Gamma flip at $90.

Dealer Positioning (GEX/DEX)

GEX: $+93.7M

DEX: +205.7M shares

Gamma flip: ~$90 (Approx — based on put OI concentration of 23,623 (24.1% below spot))

NTM gamma: NTM gamma positive, GEX $93.7M, dealers hedging upside, pinning near $110-$120.

IV Analysis

IV vs VIX: IV rich vs VIX (16.8) given high vol regime, suggesting premium selling opportunities but caution for long volatility.

Term structure: Likely contango, front-month elevated due to events? (no input) but high vol skews term structure upward.

Skew: Call skew elevated, put skew lower; opportunity in selling puts at support or call spreads.

Flow Analysis

Net premium: Net premium $139.7M positive; put/call vol ratio 0.77 (calls > puts) indicating bullish flow.

Directional prints: 87.6 put 88 OTM 2026-06-12 — Vol/OI 14.2x; likely new put buying, bearish; preferred read bearish. 90.6 call 138 OTM 2026-05-22 — Vol/OI 14x; likely new call buying, bullish; preferred read bullish. 81.8 put 101 OTM 2026-05-29 — Vol/OI 8.6x; likely new put buying, bearish; preferred read bearish.

Unusual: 87.6 put 88 OTM 2026-06-12 — Vol/OI 14.2x; highest ratio, new put buying, bearish. 90.6 call 138 OTM 2026-05-22 — Vol/OI 14x; heavy call buying, bullish outlier. 81.8 put 101 OTM 2026-05-29 — Vol/OI 8.6x; large put volume vs OI, bearish.

Risks & Catalysts

!Spot drops to $110 MP, triggering dealer sell-off

!IV contraction reduces option value

!Regime shift to low vol

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Put credit spread	Moderate-Weak	Sell 2026-06-26 $110.00/$109.00 put spread Why now: Spot above MP but bullish flow; sell 110/109 put spread for defined-risk.	Spot drop to $110 triggers max loss; IV contraction reduces premium. Liquidity constraints: long_put: Volume below 5.
Bear put spread	Moderate-Weak	Buy 2026-07-17 $110.00/$105.00 put spread Why now: Spot above MP and put buying; buy 120 put, sell 115 put.	Upside rally causes loss; time decay works against if delayed.
Call credit spread	Moderate-Weak	Sell 2026-06-26 $130.00/$131.00 call spread Why now: Near resistance; call skew elevated; sell 120/125 call spread.	Sharp rally above 120 causes loss; IV expansion hurts. Liquidity constraints: long_call: Open interest below 25.
Call calendar	Moderate	Sell 2026-06-05 $130.00 call / buy 2026-07-17 $130.00 call Why now: IV elevated near-term; sell Jun5 125c, buy Jul17 125c.	Trend move hurts; short delta risk if spot above 125.

Top Plays

Bear Put Spread on Resistance

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

Buy 110 put, sell 105 put to profit from pullback to max pain.

Why this play: Aligns with short-term bearish lean and put flow; best liquidity among bearish plays.

Debit: $1.87-$2.28

Max loss: $2.28

BE: $107.72

Mgmt: Exit if spot breaks above $130 invalidation; manage theta decay.

Traders expecting near-term decline to $110.

Call Credit Spread at Resistance

Sell 2026-06-26 $130.00/$131.00 call spread

Sell 130/131 call spread to capture premium near resistance.

Why this play: Bearish on calls; benefits from elevated call skew, though low liquidity reduces confidence.

Credit: $0.05-$0.06

Max loss: $0.94

BE: $130.06

Mgmt: Avoid if liquidity improves; exit on break above $130. Liquidity warning: Liquidity constraints: long_call: Open interest below 25.

Traders expecting spot to stay below $130.

Put Credit Spread for Bullish Flow

Sell 2026-06-26 $110.00/$109.00 put spread

Sell 110/109 put spread to collect premium near max pain.

Why this play: Bullish flow supports but conflicts with short-term bearish thesis; lower confidence.

Credit: $0.29-$0.36

Max loss: $0.64

BE: $109.64

Mgmt: Manage if spot drops near $110; roll if necessary. Liquidity warning: Liquidity constraints: long_put: Volume below 5.

Traders with longer-term bullish outlook.

Watchlist Triggers

Entry Triggers

IFSpot trades between $110 and $130. → Buy 2026-07-17 $110/$105 bear put spread for $1.87-$2.28 credit.

IFSpot bounces off $110 support. → Sell 2026-06-26 $110/$109 put credit spread for $0.29-$0.36 credit.

Exit Triggers

EXITSpot closes above $130. → Close 2026-07-17 $110/$105 bear put spread.

Tactical Summary

INTC neutral-bearish short-term; spot above max pain $110. Structure: support $110, resistance $130. Use bear put spread on hold above $110; exit if $130 broken. Sell put credit spread if $110 support holds. Low liquidity on call credit spread avoids.

How to Use These Reports

This directional reflects the market close on May 21, 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.