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INTC

Intel CorporationClose $65.70EOD only
Max Pain
$57.00
Next expiry Apr 24, 2026
Expected Move
±$6.65
10.1% from close
Price Gap
-8.70
Distance to max pain
IV Rank
27
Middle-high premium
P/C OI
0.93
Balanced positioning
Consensus
6.0/10
Consensus signal
Published snapshot: Apr 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
Apr 20, 2026 close
INTC Theta Report
Analysis based on market close April 21, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness5 / 10
Sizing: Conservative
Primary: Short-dated defined-risk put-credit spreads (sell 60/56 7–14d) sized ≤1–2% notional; roll/weaken if spot ↓ or IV compresses
Invalidation: Close below $59, concentrated put buying >$X notional, VIX spike >30, or material catalyst (earnings/M&A/government data) within the trade window
Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 10.4% from MP; +0.5 VIX 20

IV Environment

IV Regime
High
IV vs VIX
Spot IV very rich vs VIX (≈80.8 vs 19.5); sellable only as very short, defined-risk because realized/gamma dynamics differ from VIX
Favorable?
Yes

Term structure: Extremely elevated front-week IV (3d ATM ~121%) with steep term structure — premium front-loaded

⚠️Front-week IV-richness makes defined-risk short-dated selling attractive but risk of sharp gap moves
📊Dealer GEX/short-gamma exposure supports mean-reversion intraday, enabling small, size-constrained premium sells

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+102.3M)

OI concentrations: Max-pain cluster at $60/$58/$56; call wall at $70; notable put OI concentrated 0–6% below spot

Verdict: Elevated pin risk at $60–58 over next 2 weeklies; calendar/corp news can reflow OI rapidly — monitor expiries and roll levels

Premium Opportunities

#1
Put credit spread
Sell 2026-05-15 $60.00/$52.50 put spread
Sell 5/15 60/52.5 put spread to collect short‑dated premium while limiting downside
Credit: $1.51-$1.84
Max loss: $5.66
BE: $58.16
Mgmt: Size ≤1–2% notional; roll/weaken if spot drops toward 56–58 or IV compresses
#2
Cash-secured put
Sell 2026-05-15 $60.00 cash-secured put
Sell 5/15 60 cash‑secured put to get paid to own stock at preferred price
Credit: $2.19-$2.68
Max loss: $57.32
BE: $57.32
Mgmt: Size small; close or roll if spot nears 56–58 or large put blocks appear
#3
Iron condor
Sell 2026-05-22 $61.00/$53.00 put wing and $81.00/$89.00 call wing
Sell 61/53 put wing and 81/89 call wing to limit tails both sides
Credit: $2.70-$3.29
Max loss: $4.71
BE: 57.71 / 84.29
Mgmt: Keep tight risk limits; avoid if liquidity poor or VIX spikes Liquidity warning: Liquidity constraints: short_call: Open interest below 25.

Risk Alerts

!Spot drops toward $56–58 concentrating puts or large block put buys
!VIX jump >30 or fast unwind of dealer short-gamma positions
!Earnings, M&A headlines, or major macro prints during trade horizon
How to Use These Reports
This theta reflects the market close on April 21, 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.