thetaOwl

INTC

Intel CorporationClose $121.77EOD only
Max Pain
$111.00
Next expiry May 29, 2026
Expected Move
±$7.03
5.8% from close
Price Gap
-10.77
Distance to max pain
IV Rank
60
High premium
P/C OI
1.04
Balanced positioning
Consensus
7.0/10
Bullish tilt
Published snapshot: May 27, 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 27, 2026 close
INTC Theta Report
Analysis based on market close April 10, 2026

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

You are viewing an older report from April 10, 2026. A newer theta report is available for May 26, 2026.

View latest report

Theta Verdict

Attractiveness8 / 10
Sizing: Moderate
Primary: Defined-risk call spreads (sell 65/70) and 30–45 DTE put spreads (cash-secured / defined-risk) — favor defined-risk credit selling because of earnings and high IV
Invalidation: Close below $58.07 (1-week EM lower guardrail) — extended move below this removes pin support and forces defense
Confidence:
7 / 10
base 7.0 (given); +1 high IV (Avg IV 78.6%); +1 strong positive GEX ($137.4M) supporting pin; -1 spot 24.8% above max pain ($50) increases tail to downside

IV Environment

IV Regime
High
IV vs VIX
IV Avg 78.6% vs VIX unknown — absolute IV is very elevated for a large-cap semiconductor
Favorable?
Yes

Term structure: Very steep front-to-mid curve: 7d ATM 62.5% → 14d ATM 87.3% → 21–35d ATM 81.1%/73.6% (humped; short-dated skewed rich around next two expiries) — front-week and 2-week are rich

💰Avg IV 78.6% — rich premium to collect
🧲Positive GEX $137.4M creates pinning magnets at strikes (60, 62.50, 65)

Pin Risk Assessment

Spot vs MP: Spot $62.38 is above max pain $50.00 (MP trend falling) — distance ~+24.8%

GEX regime: Pinning (GEX +$137.4M) — dealers currently long gamma net and likely to pin into OI concentrations

OI concentrations: Call walls: $70.00 (71,350/29,166 OI), $65.00 (31,912 OI), $60.00 (38,861 OI). Put walls: $35.00 (28,280 OI), $40.00 (25,883 OI), $50.00 (22,571 OI). Strong GEX concentration at $65 (+$13.7M), $60 (+$13.6M), $62.50 (+$3.4M)

Verdict: Favorable — pinning and large positive GEX make defined-risk credit selling (call spreads and put spreads) attractive, but be mindful of earnings and directional flow at $50/$65 strikes

Premium Opportunities

#1
call spread
Sell 65/70C 2026-04-24 (14 DTE) — defined-risk bear call spread
High IV and large call GEX/oi concentration at $65 (+$13.7M; 31,912 OI) creates a pin magnet just above spot; defined-risk call spread captures rich front-mid premium and limits assignment risk into earnings window.
Credit: $0.80-$0.95
Max loss: $4.05
BE: $65.95
Mgmt: Take profit at 50–65% of max credit collected; if short 65 is tested (underlying ≥65) consider rolling up 2–5 strikes or close; cut losses if price >70 (the short spread width) or if IV spikes >+20% intraday
#2
put spread (cash-secured / defined-risk)
Sell 60/55P 2026-05-15 (35 DTE)
30–45 DTE preferred for theta sellers; 60 has big GEX (+$13.6M) and strong OI (38,861) providing put-side support via dealer hedging. ATM-mid-term IV (May 15 ATM ~73.6%) is elevated, paying better credit than short week while avoiding extreme weekly risk.
Credit: $1.20-$1.60
Max loss: $3.40
BE: $58.80
Mgmt: Close at 65% of max profit; if price falls and tests short 60, roll down 2–3 strikes or close to preserve capital; cut losses and close spread if price closes below $58.07 (1-week EM lower guardrail) or if IV collapses >30%
#3
iron condor
Sell 60/62.5P (buy 55P) and 65/70C (buy 75C) 2026-05-22 (42 DTE) — wide iron condor centered inside 1–2 week EM
Combines the pinning magnets at 60/62.50/65 and collects high IV across both wings; defined risk on both sides reduces assignment risk during earnings tail and benefits from positive GEX pin behavior.
Credit: $1.10-$1.40
Max loss: $3.60
BE: Lower ~58.90 / Upper ~66.60
Mgmt: Take profit at 50% of max credit; tighten or close if either short strike is tested (underlying ≤62.5 or ≥65); cut losses if underlying closes beyond either breakeven for two consecutive sessions
#4
covered call (buy-write)
Buy 100 shares; sell 65C 2026-05-15 (35 DTE)
If you want equity exposure, selling the 65C collects rich premium (chain shows 65C mid around $3.10–3.25 in longer weekly chains) while aligning with the $65 pin magnet; this converts directional exposure into an income trade.
Credit: $3.10-$3.25
Max loss: Stock risk minus call credit (unlimited downside)
BE: $59.28
Mgmt: Close call at 70% of max premium if stock rallies toward 65; consider buyback and roll up if assigned; cut stock if it breaks and holds below $58.07 EM guardrail

Risk Alerts

!Earnings 2026-04-23 (in ~13 days) — do not sell naked (unhedged) through earnings; prefer defined-risk or close positions prior to release
!Large positive GEX +$137.4M → pinning can compress moves but can also amplify direction if dealers lose hedging control; be ready to manage short strikes if price moves toward $65 or $60
!Heavy institutional call flow into $50 and $65 strikes (Top premium flow: $50 net call $12.2M; $65 net call $11.7M) — one-sided flow can reprice skew quickly
!Unusual activity: concentrated 4/17 and 4/24 puts at $62.50 and $60 — these ITM/near-ITM flows can bring assignment/early-exercise pressure on short puts during the week
!IV is already very elevated (Avg IV 78.6%) — watch for large IV collapses post-earnings which can hurt calendar/timing trades; defined-risk spreads preferred into event
How to Use These Reports
This theta reflects the market close on April 10, 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.