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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 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 theta report is available for May 20, 2026.

View latest report

Theta Verdict

Confidence:

8 / 10

base 5; +2 extremely high IV; +2 strong pinning GEX; -1 bullish flow pressure

IV Environment

IV Regime

Extremely High

IV vs VIX

IV 70% — Extremely elevated, offering rich premium for sellers.

Favorable?

Yes

Term structure: Near-term IV hump (73% for 4/24), elevated across all expirations above 60%.

💰IV >70% provides exceptional credit for sellers.

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

Pin Risk Assessment

Spot vs MP: Spot $44.13 is 1.9% below max pain of $45.

GEX regime: Pinning (GEX +$75.4M — strongly mean-reverting)

Gamma flip: ~$15.00 — Massive put OI at $15 creates a theoretical gamma flip far below. Current positive GEX dominates, promoting pinning near spot.

OI concentrations: Major Call Walls: $40 (98K), $50 (76K), $55 (46K). Major Put Support: $15 (55K), $30 (49K), $20 (49K). Near-term: High OI at $45 and $47 calls, $46 and $47 puts.

Verdict: Favorable — Strong positive GEX and spot proximity to max pain create a high-probability pinning environment, supportive of credit strategies.

Premium Opportunities

put spread

Sell $42/$40 put spread for 2026-04-17 (17 DTE)

High IV (63.1%) provides solid credit. Strike is below spot and the $42.5 expected move low, offering a buffer. Positive GEX pinning supports price stability. Defined risk suits the environment.

Credit: $0.45-$0.55

Max loss: $1.55

BE: $41.55

Mgmt: Close at 70% max profit. Exit if price closes below $42.50. Do not roll.

iron condor

Sell $42/$40P x $47/$49C for 2026-04-24 (24 DTE)

Capitalizes on high IV (73.2%) and the pinning regime. Strikes frame the current price, targeting the high OI zones at $42P and $47C. Defined risk with a high credit-to-width ratio.

Credit: $0.85-$1.05

Max loss: $1.15

BE: 41.15 / 47.85

Mgmt: Close at 50% max profit. Manage wings independently; close tested side if short strike is breached. Close entire position 1 week before earnings (~4/16).

call credit spread

Sell $47/$49 call spread for 2026-04-10 (10 DTE)

Targets the clear call resistance at $47 (high OI/flow). Spot is below max pain ($45), and positive GEX dampens upward momentum. High near-term IV (63.8%) provides good premium for a weekly defined-risk play.

Credit: $0.40-$0.50

Max loss: $1.60

BE: $47.40

Mgmt: Close at 80% max profit. Exit if price closes above $46.50.

cash-secured put

Sell $40 put for 2026-05-15 (45 DTE)

For capital-secure sellers willing to own INTC. Targets the massive $40 OI call wall, now acting as support. Extremely high IV (69.0%) yields an exceptional annualized return. Strike is 9.4% below spot, offering a margin of safety within the pinning range.

Credit: $2.70-$3.20

Max loss: $37.30

BE: $37.30

Mgmt: Roll down/out only for a credit >1.5x the width of the new strike. Be prepared to take assignment at $40. Close before earnings if not assigned.

Risk Alerts

!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.

!Extremely Bullish Flow Pressure: Net premium flow is heavily bullish (+$80.6M, P/C 0.64). This suggests persistent institutional buying that could test call resistance, threatening short call positions.

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

!Gamma Regime Change: While GEX is strongly positive now, a sustained break outside the $42-$48 range could see pinning forces weaken, increasing trend risk.

!Unusual Put Activity: High volume in near-term $46-$48 puts (e.g., 4/02 $46P) may indicate hedging or bearish bets that could increase volatility if spot declines.

How to Use These Reports

This theta 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.