thetaOwl

INTC

Intel CorporationClose $114.68EOD only
Max Pain
$115.00
Next expiry Jun 5, 2026
Expected Move
±$11.07
9.7% from close
Price Gap
+0.32
Distance to max pain
IV Rank
62
High premium
P/C OI
1.06
Balanced positioning
Consensus
7.0/10
Bullish tilt
Published snapshot: May 29, 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 29, 2026 close
INTC Earnings Report
Analysis based on market close April 14, 2026

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

You are viewing an older report from April 14, 2026. A newer earnings report is available for May 26, 2026.

View latest report

Earnings Verdict

High-IV earnings window centered on 2026-04-23 with strong dealer pinning (GEX +$135.3M) and large call concentration at $65/$70. Best strategy: premium selling across the 2026-04-24 expiration (iron-condor/winged short strangle) or defined-risk bullish call spread if you want long exposure. Key risk: headline-driven gap beyond the 1-week EM ($55.84-$71.79) that defeats pinning and blows out short premium.

Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 27.6% from MP; +0.5 VIX 18
Most important: Watch IV term-structure kink into 04-24 (ATM 90.2%) and the $65/$70 GEX/call OI concentration — they are the primary pinning forces.
📌Strong pin at $65 (GEX +$23.2M) plus heavy $70 call flow — dealers are incentivized to hedge toward the $65-$70 zone.
⚠️04-24 ATM IV = 90.2% (large kink vs 3d 61.1%) — options are expensive; selling defined-risk premium is the higher-probability play.
📈Historical EPS: 3 beats / 1 miss in last 4 quarters → slight upside bias combined with call-heavy flow.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Bullish
Spot vs MP
Above

Earnings Overview

Next earnings: 2026-04-23 (TBD) (9 days)explicit

Expected moves:

  • 2026-04-17 (3d): 7: $60.55 - $67.08 (±$3.26, 5.1%)
  • 2026-04-24 (10d): 7: $55.84 - $71.79 (±$7.97, 12.5%)

IV Setup

Term structure: Marked kink: 3d ATM 61.1% (pre-expiry) vs 10d ATM 90.2% (expiration that contains earnings) — large front-to-expiry skew; IV falls across expiries beyond 04-24.

Crush estimate: ~40–50 vol pts down from short-dated 90% to ~60% post-event on some tenors; practical post-earnings realized IV likely falls to 60–75% depending on move magnitude (ATM 3d=61.1%, 17d=80.2%).

Skew: Calls are relatively rich in flows (heavy $70/$65 call flow) and ATM skew is high; puts are present but lighter versus call premium flow.

Historical Context

Beat rate: 75% (3/4 recent quarters beat: 2025-12-31, 2025-09-30, 2025-03-31; one miss 2025-06-30)

Avg move vs expected: Not explicitly computed by upstream fields, but recent realized outcomes show occasional under- and over-moves vs EM; use EM rails as primary sizing guide.

Directional bias: Lean-up historically (3 beats vs 1 miss); combined with bullish flow suggests asymmetric upside skew into this print.

Key Levels

1$60.55 (2d EM low)
2$67.08 (2d EM high)
3$65.00 (GEX +$23.2M pin magnet)
4$70.00 (call OI wall & heavy call flow)

Flow Highlights

Heavy $70 call premium: $22,830,497 call vs $847,790 put (Net $21,982,707).

Strong upside directional/speculative flow or dealer pick-up hedging; increases chance dealers pin toward $70/$65 to hedge short calls.

Large $65 call flow: $14,227,829 call / $6,101,822 put (Net $8,126,007).

Concentrated bullish bets at $65 amplifies pin at $65 (GEX +$23.2M).

Strategies

Defined-risk iron condor (earnings capture)
04-24 expiration: Sell 65C / Buy 70C, Sell 60P / Buy 55P
Credit: $2.90-$3.05
Max loss: $2.04
Max gain: $3.05
BE: 61.95 / 68.05
Trigger: Enter 2–5 days before earnings when IV is elevated but not yet fully priced into 04-24; trim size if $SPX/XLK sell-off accelerates.
High IV (ATM 90.2%) and positive dealer GEX create a favorable premium-selling backdrop; defined risk limits tail exposure while capturing rich credit.
Outperforms: Stock stays inside 1-week EM ($55.84-$71.79) and dealers pin between $60-$70 (heavy GEX at $65).
Underperforms: Large gap move beyond the wings (>5% beyond breakevens) or headline that drives price past $71.79.
Long straddle (volatility/large-move play)
04-24 expiration: Buy 64C + Buy 64P (64 straddle)
Debit: $7.97-$8.05
Max loss: $7.98
Max gain: Unlimited
BE: ~$56.03 / ~$71.78
Trigger: Enter 1 day before earnings only if expected directional headlines or if IV hasn't repriced higher into 04-24.
Straddle prices align with 1-week EM rails (breakevens match $55.84/$71.79); use when conviction in outsized move outweighs expensive IV.
Outperforms: Actual absolute move > EM by ~>25–30% (clean beat/miss, material guide change) or sustained post-earnings IV elevation.
Underperforms: Pinning holds near $65 and IV collapses back toward 60–70% without a large price move.
Bull call spread (biased long, defined-risk)
04-24 expiration: Buy 65C / Sell 70C (1 x 5-wide call spread)
Debit: $1.60-$1.66
Max loss: $1.66
Max gain: $3.34
BE: $66.66
Trigger: Enter into earnings if you want asymmetric upside exposure and prefer limited premium risk; better if flow remains call-heavy at 65/70.
Bullish flow and large call OI at $65/$70 make a vertical a way to play upside conviction with limited debit and controlled risk.
Outperforms: Stock gaps or rallies above ~$67 into the $70 OI wall; earns payoff if upside momentum follows a beat/guide upgrade.
Underperforms: Price pins around $64-$65 and IV crush reduces extrinsic value without a directional follow-through.
Aggressive IV-crush short straddle (high-risk)
04-24 expiration: Sell 64C + Sell 64P (collect ~7.98 credit)
Credit: $7.95-$8.00
Max loss: Unlimited (large)
Max gain: $7.98
BE: $56.03
Trigger: Only for experienced traders who size small and can hedge; prefer entry if you believe pinning to $65/$70 will hold and you can close into any gap early.
Huge IV premium (04-24 ATM 90.2%) offers attractive credit but central risk is a headline-driven gap — use tiny size and defined contingency hedges.
Outperforms: Earnings cause little net price movement and IV collapses post-announcement; stock pins inside breakevens.
Underperforms: Any large gap past breakevens, especially a directional move beyond $71.79 or below $55.84.

Risk Assessment

!Gap risk: EM (1w) spans $55.84-$71.79; guidance-driven gaps can exceed these rails and quickly wipe out short premium positions.
!IV crush impact: Post-earnings ATM IV for short-dated expiries can drop from ~90% to the 60–75% area; long-vol positions need a move large enough to overcome rich pre-event IV.
!Liquidity: Near-term expirations and strikes (65, 70, 64) show deep flow and OI — good for execution but also means dealers may aggressively hedge into prints.
!Sizing: Given positive GEX and heavy call flow, short premium strategies should still be sized conservatively (small notional) because dealer pinning can reverse on surprise guidance.
!Hedge plan: Have stop/hedge levels pre-defined (e.g., buy protective wings or convert to iron fly) if price pierces the 1-week EM boundaries.

What to Watch

?IV trajectory into 04-24 (watch whether 10d ATM >90% expands further or compresses).
?Flow into $65/$70 (continued heavy call buying reinforces pin; sudden put buying would signal sellers stepping in).
?Price action around $65 (GEX +$23.2M) — if price stabilizes there, pinning likely; decisive break below $60.55 would flash gamma blowout risk.
?Unusual OTM activity (notable: large $70 call flow vol/oi) and any block trades that shift dealer net delta.
How to Use These Reports
This earnings reflects the market close on April 14, 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.