Intel Options Traders Make Bold Long-Dated Bet With $4.35M Call as INTC Nears 52-Week High

By TrendSpider Editor

The forward setup for Intel is compelling but not without complexity. The near-term call expiring October 16, 2026 is already in the money, giving it intrinsic value and suggesting traders may be positioning for continued momentum into the next few weeks. The longer-dated December 2028 contract impl

Intel Options Traders Make Bold Long-Dated Bet With $4.35M Call as INTC Nears 52-Week High

Key Drivers of the INTC Stock Move

• Main Catalyst: Two unusual call contracts totaling $4,928,872.10 in premium were flagged today. The dominant trade is a 1,000-contract block on the $150 call expiring December 15, 2028, carrying $4,352,000 in premium with only 10% open interest utilization, suggesting this is largely a new position. A second contract on the $120 call expiring October 16, 2026, brought in an additional $576,872.10 in premium and is currently in the money with INTC at $123.50.
• Bull Case: The sheer size of the December 2028 $150 call, at $4,352,000 in premium for 1,000 contracts, signals that at least one institutional participant is willing to make a multi-year commitment to INTC trading materially above current levels. The near-term $120 call expiring October 16, 2026 is already in the money, adding to the constructive short-term picture.
• Bear Case: The $150 strike on the long-dated call sits well above both the current price of $123.50 and the 52-week high of $142.34, meaning the stock would need to break into entirely new all-time territory for that contract to pay off at expiration. The low open interest ratio of 10% on that contract also means price discovery is still limited, which adds uncertainty around true market consensus.

The forward setup for Intel is compelling but not without complexity. The near-term call expiring October 16, 2026 is already in the money, giving it intrinsic value and suggesting traders may be positioning for continued momentum into the next few weeks. The longer-dated December 2028 contract implies a much bigger thesis, likely tied to Intel's ongoing turnaround effort under its current strategic direction, including its foundry ambitions and AI chip roadmap. With INTC having traded as low as $32.89 over the past 52 weeks and now pressing toward $123.50, the options market appears to be pricing in the possibility that the recovery still has significant runway remaining.

INTC Unusual Options Activity

• Contract 1: Call | Strike: $150 | Expiry: December 15, 2028 | Volume: 1,000 contracts | Open Interest Utilization: 10% | Status: Out of the Money
• Contract 2: Call | Strike: $120 | Expiry: October 16, 2026 | Volume: 721 contracts | Open Interest Utilization: 2% | Status: In the Money

Total unusual premium across both contracts: $4,928,872.10. Both flagged contracts are calls, with zero put activity detected, reflecting an entirely one-directional bullish signal in today's unusual flow.

INTC Seasonality

October has historically been a pivotal month for semiconductor stocks, often seeing increased volatility around earnings season and year-end portfolio repositioning. The near-term $120 call expiring October 16, 2026 aligns closely with what would typically be Intel's earnings announcement window, suggesting the buyer may be targeting a specific catalyst event.

INTC Relative Performance

INTC is up 2.92% today, trading at $123.50 against a 52-week range of $32.89 to $142.34. The stock is currently trading approximately 13% below its 52-week high, suggesting that while the recovery has been substantial, there remains technical room to run before challenging that ceiling. The scale of today's options premium suggests at least some institutional participants believe INTC can not only reclaim its 52-week high but eventually eclipse the $150 level targeted in the longest-dated contract.