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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 Theta Report

Analysis based on market close March 30, 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 30, 2026. A newer theta report is available for May 20, 2026.

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Theta Verdict

Confidence:

7 / 10

base 5; +2 extremely high IV; +1 defined risk; -1 trending GEX regime

IV Environment

IV Regime

Extremely High

IV vs VIX

IV 72% — Extremely elevated, offering rich premium.

Favorable?

Yes

Term structure: Backwardated near-term (70%+ for April), elevated across all expirations.

💰IV >70% provides exceptional credit for sellers.

⚠️High IV implies high expected volatility; use defined risk.

Pin Risk Assessment

Spot vs MP: Spot $41.17 is 8.5% below max pain of $45.

GEX regime: Trending (GEX -$9.0M — pro-cyclical, dealers amplify moves).

Gamma flip: ~$15.00 — Massive put OI at $15 creates a major gamma flip level far below. Above $15, negative GEX suggests trending price action.

OI concentrations: Major Call Walls: $40 (98K), $50 (75K). Major Put Support: $15 (55K), $20 (49K), $30 (48K).

Verdict: Unfavorable for pinning. The negative GEX and distance from max pain suggest a trending environment, not a pinning one. This increases risk for naked short options.

Premium Opportunities

put spread

Sell $35/$30 put spread for 2026-05-15 (47 DTE)

Targets major OI support at $30. High IV (68.8%) provides excellent credit. Defined risk protects against the trending GEX regime. Strike is below the expected move low of $33.09 for this expiration.

Credit: $1.10-$1.40

Max loss: $3.90

BE: $33.90

Mgmt: Close at 65% max profit. Exit if price closes below $36 (just above short strike). Do not roll.

iron condor

Sell $35/$30P x $50/$55C for 2026-06-18 (81 DTE)

Wide, high-probability range anchored by massive OI at $30P and $50C. High IV (65.5%) provides strong premium. 81 DTE allows time for theta decay while avoiding the near-term earnings date.

Credit: $1.80-$2.20

Max loss: $3.20

BE: 32.20 / 52.80

Mgmt: Close at 50% max profit. Manage wings independently; close tested side if short strike is breached. Close entire position 2 weeks before earnings (by ~4/9).

cash-secured put

Sell $30 put for 2026-04-24 (26 DTE)

For capital-secure sellers willing to own INTC. Targets the massive $30 OI support wall. High IV (70.4%) yields an attractive annualized return. Strike is 27% below spot, offering a large margin of safety.

Credit: $0.85-$1.05

Max loss: $29.15

BE: $29.15

Mgmt: Roll down/out only if credit received is >1.5x the width of the new strike. Be prepared to take assignment at $30. Close before earnings if not assigned.

call credit spread

Sell $45/$50 call spread for 2026-04-17 (19 DTE)

Capitalizes on spot being below max pain ($45) and the large $50 call wall. High IV (64.6%) provides good credit. Defined risk against upward moves in a trending (negative GEX) regime.

Credit: $0.95-$1.15

Max loss: $4.05

BE: $45.95

Mgmt: Close at 70% max profit. Exit if price closes above $44.50 (just below short strike).

Risk Alerts

!Trending GEX Regime (GEX -$9.0M): Dealers will amplify price moves, increasing risk for naked short options. Favor defined-risk spreads.

!Upcoming Earnings ~2026-04-23: Do not sell naked options through this event. Close or roll all short premium positions at least 5-7 days prior.

!Extreme Call Buying Flow: Net premium flow is heavily bullish (+$15.1M, P/C 0.39). This suggests institutional bullish bets that could fuel a rally, threatening short call positions.

!Gamma Flip at ~$15: A break below this level (far from spot) would see dealer hedging flip to accelerate selling. This is a tail-risk alert for put sellers.

!High IV Crush Risk Post-Earnings: While IV is high now, it will collapse after the April earnings report, punishing short vega positions held through the event.

How to Use These Reports

This theta reflects the market close on March 30, 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.