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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 Flow Report

Analysis based on market close March 31, 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 March 31, 2026. A newer flow report is available for May 20, 2026.

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Flow Verdict

Confidence:

7.5 / 10

base 5; +2 for massive net bullish premium (+$80.6M) and call-dominant P/C (0.64); +1 for GEX/flow alignment (positive GEX supports pinning near call walls); -0.5 for spot below max pain and elevated IV (70%) indicating volatility risk.

Watch next session: Spot reaction near the $45 max pain level; Follow-through in the $46-$48 put block sales; Any defensive call buying at the $50 strike

Flow Summary

Net premium: +$80.6M bullish

P/C volume ratio: 0.64 — call-dominant

P/C OI ratio: 0.86 — moderate put lean in positioning

The flow regime has intensified from bullish to aggressively bullish, with net premium exploding to +$80.6M. This is driven by massive call buying concentrated at the $45-$55 strikes, particularly the $50C. While the P/C OI ratio shows a legacy put lean, today's volume is decisively call-driven, suggesting institutions are positioning for a continued rally, likely targeting the max pain cluster at $45.

Notable Prints

INTC 4/2/26 $46 Put

Vol: 22,294

OI: 1,618

Vol/OI: 13.8x

IV: 57.2%

Notional: ~$2.2M (est. avg premium $0.10)

Intent: Large-scale put selling (short put)

Dual read: Sold to open (bullish/neutral) or bought to close (bullish). High volume vs. OI and proximity to spot suggest new sales.

Read-through: This is a significant bullish signal. Selling 22k+ puts just $1.87 below spot ($44.13) for Friday expiry is a high-conviction bet that INTC will not drop below $46. It's either a premium harvest or a synthetic way to get long stock. The notional risk is substantial.

INTC 4/2/26 $47 Put

Vol: 17,520

OI: 1,365

Vol/OI: 12.8x

IV: 54.8%

Notional: ~$1.75M (est. avg premium $0.10)

Intent: Large-scale put selling (short put)

Dual read: Sold to open (bullish/neutral). Part of a cluster with the $46P and $48P.

Read-through: Another block of short puts, forming a defensive wall from $46-$48 for the weekly expiry. This activity collectively represents a major institutional bet against a sharp drop, providing significant gamma support just below the market.

INTC 4/17/26 $47.50 Put

Vol: 8,609

OI: 101

Vol/OI: 85.2x

IV: 58.6%

Notional: ~$860K (est. avg premium $0.10)

Intent: Fresh put selling (short put)

Dual read: Sold to open. The extreme vol/OI ratio and elevated but not peak IV point to a new opening sale.

Read-through: Extends the put selling theme out to the April monthly expiry. Selling OTM puts 2.5 weeks out is a bullish income or acquisition strategy, reflecting confidence in stability or upside over that period.

INTC 4/2/26 $48 Put

Vol: 13,219

OI: 396

Vol/OI: 33.4x

IV: 52.5%

Notional: ~$1.32M (est. avg premium $0.10)

Intent: Large-scale put selling (short put)

Dual read: Sold to open, completing the $46-$48 short put wall.

Read-through: The highest strike in the weekly short put cluster. Selling these ~8.8% OTM puts for minimal premium (low IV) is a very bullish, almost outright directional bet that a significant drop is off the table in the short term.

Institutional Positioning

Call additions: Massive premium influx at $50C (+$17.3M net), $70C (+$13.7M), $55C (+$9.2M), and $45C (+$7.9M). This is concentrated buying in the $45-$55 zone for April/May.

Put additions: Minimal net put buying. The notable put flow is overwhelmingly sales (as seen in unusual activity), not purchases. Small defensive put premium at $38 and $46.

GEX/DEX consistency: Yes — Positive GEX (+$75.4M) indicates a 'pinning' or mean-reverting regime. This aligns with the flow thesis of call buying and put selling creating a supportive gamma wall, which should dampen volatility and pin price near high-OI call strikes like $45 and $50.

OI clusters: Major Call OI: $40C (98K), $50C (75K), $70C (83K). Major Put OI: $15P (55K), $30P (49K), $20P (49K). The $40 and $50 strikes are key magnets. The $45 max pain level for 3/27 is now a critical near-term target.

Hedging evidence: Very little recent protective hedging. The deep OTM put OI ($15, $20, $30) is legacy. The current put flow is dominantly short (sales), which is the opposite of hedging.

Max pain context: Spot ($44.13) is 1.9% below the nearest max pain at $45 (3/27). The flow and positive GEX are actively pulling price toward this level. The longer-term MP trend is downward ($45 to $40), but near-term gravity is higher.

Signal vs Noise

~The enormous net premium at the $70 Call (+$13.7M) and $50 Call (+$17.3M) is likely a mix of new bullish speculation and rolling/adjustment of the massive legacy OI (83K and 75K respectively). It is a strong signal but amplified by existing positioning.

~Deep OTM Put OI at $15, $20, $30: Remains noise for near-term direction. These are long-dated, cheap positions not indicative of current sentiment.

~The high IV in the 4/24 expiry (73.2%) is notable and may be related to the TBD earnings date of 4/23. Flow in that expiry could be earnings-driven positioning, not pure directional bets on the current move.

Key Conclusions

💰Net bullish premium exploded to +$80.6M, signaling a massive institutional bet on continued upside.

🛡️Large-scale short put blocks at $46-$48 for weekly expiry create a strong gamma support floor, limiting near-term downside.

🎯Price is being pulled toward the $45 max pain level, supported by positive GEX and call-focused flow.

⚡High IV (70%) and pinning GEX regime suggest explosive moves are less likely; expect controlled grind toward call walls.

How to Use These Reports

This flow reflects the market close on March 31, 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.