Intel Options Traders Bet Big on a Continued Rally With a $1.6M Call at $170

By TrendSpider Editor

Intel Corporation is drawing attention in the options market Tuesday, with two unusual contracts totaling roughly $1.84 million in premium pointing to divided but notable conviction around the stock. INTC shares are trading at $122.04, up a modest 0.21% on the session, and are sitting in the upper h

Intel Options Traders Bet Big on a Continued Rally With a $1.6M Call at $170

Intel Corporation is drawing attention in the options market Tuesday, with two unusual contracts totaling roughly $1.84 million in premium pointing to divided but notable conviction around the stock. INTC shares are trading at $122.04, up a modest 0.21% on the session, and are sitting in the upper half of their 52-week range of $28.73 to $142.34, a remarkable recovery that gives added weight to any directional bets made here.

Key Drivers of the INTC Stock Move

• Main Catalyst: Two unusual options contracts have surfaced on INTC today, one large call and one put, together generating $1,838,943 in total premium. The dominant trade is a call at the $170 strike expiring June 17, 2027, with a size of 1,000 contracts and $1,615,000 in premium. A secondary put at the $70 strike expiring March 19, 2027, carried 937 contracts and $223,943 in premium.
• Bull Case: The $170 call represents a 39% upside target from the current price of $122.04, and a trader was willing to deploy $1,615,000 in premium to express that view. With open interest utilization at 31%, the position is meaningful relative to existing activity, suggesting this is not a routine hedge.
• Bear Case: The $70 put, while smaller in premium at $223,943, targets a level more than 42% below the current price. At only 5% of open interest, it is a more isolated bet, but its deep out-of-the-money placement suggests at least one participant is paying for tail-risk protection or making a speculative downside wager through March 2027.

Intel's current position near the top of its 52-week range makes the options activity particularly interesting from a forward-setup perspective. The stock has staged an extraordinary recovery from its 52-week low of $28.73, and the $170 call expiring in June 2027 implies that at least one institutional-sized participant believes the momentum has further to run over the next nine months. That said, with shares already approaching the 52-week high of $142.34, any stall or reversal near prior resistance could quickly shift sentiment. The asymmetry between the two trades, with the bullish call carrying more than seven times the premium of the bearish put, suggests the options flow leans directionally positive heading into the back half of 2026 and into 2027.

INTC Unusual Options Activity

Two unusual contracts were flagged on INTC today, September 22, 2026:

• Call: Strike $170 | Expiry June 17, 2027 | Volume: 1,000 contracts | Open Interest Utilization: 31% | Out of the Money
• Put: Strike $70 | Expiry March 19, 2027 | Volume: 937 contracts | Open Interest Utilization: 5% | Out of the Money

Total premium across both contracts came to $1,838,943, with the call side accounting for $1,615,000 and the put side contributing $223,943. The call's higher open interest utilization rate of 31% versus the put's 5% indicates the call position is generating comparatively more activity relative to the existing options chain at that strike.

INTC Seasonality

The fourth quarter has historically been a strong period for semiconductor demand as consumer electronics production ramps ahead of the holiday season, which could provide a tailwind for Intel through the end of 2026. The June 2027 expiration on the dominant call gives the position ample runway to capture any seasonally driven momentum through both Q4 2026 and Q1 2027.

INTC Relative Performance

INTC is up 0.21% on the session, a quiet move on its own, but the stock's position at $122.04 tells a larger story. Having rebounded sharply from a 52-week low of $28.73, Intel has dramatically outpaced many of its semiconductor peers on a trailing-year basis, recovering ground that was once considered structurally lost. The stock is now trading within striking distance of its 52-week high of $142.34, and the call activity flagged today suggests at least some market participants believe it can push meaningfully beyond that level into mid-2027.