INTC

Watch next session: Monitor 2026-04-24 67C expiries response; Track spot vs MP convergence and any heavy put follow-through; Watch flow into 6/18 and 5/29 large call strikes for further pinning

Net premium: +$57.1M bullish

P/C volume ratio: 0.92

P/C OI ratio: 0.95

Call additions: Large May–Jun calls at 80–85 and concentrated short-dated flow (notable 6/18 $85, 5/29 $80, 4/24 $67).

Put additions: Material puts at 57.5–67 strikes across May–Jun (notably 6/18 $57.5 and multiple May $67 prints).

GEX/DEX consistency: Positive GEX (+$102M) and DEX buy flow (+176M shares) are consistent with net call skew and dealer hedging, but this alignment is plausible rather than definitive — could reflect one‑off trades, timing effects or amplification from low‑liquidity prints.

OI clusters: Top OI: 6/18 $85 ≈2.35k, 4/24 $67 ≈4.0k, 6/18 $57.5 ≈1.3k.

Hedging evidence: Elevated put OI and high IV consistent with protective hedges/collars; sizing suggests institutional participation but not a unique explanation.

Max pain context: Spot ~10% above MP; flows and GEX could produce moderate pin pressure toward near-term strikes, though outcome is uncertain and other drivers may dominate.