Intel Sees $3M in Bearish Put Activity as Stock Slides 2.16% Toward Session Lows

By TrendSpider Editor

Intel Corporation is drawing significant bearish attention in the options market today, with $3,043,600 in total put premium flowing across two unusual contracts as shares trade at $104.765, down 2.16% on the session. The activity spans both a longer-dated, deep out-of-the-money put and an in-the-mo

Intel Sees $3M in Bearish Put Activity as Stock Slides 2.16% Toward Session Lows

Intel Corporation is drawing significant bearish attention in the options market today, with $3,043,600 in total put premium flowing across two unusual contracts as shares trade at $104.765, down 2.16% on the session. The activity spans both a longer-dated, deep out-of-the-money put and an in-the-money contract expiring today, suggesting traders are positioning for continued downside at multiple time horizons. With Intel currently trading well above its 52-week low of $32.89 but significantly below its 52-week high of $142.34, the stock sits in a wide range that leaves plenty of technical room in either direction.

Key Drivers of the INTC Stock Move

• Main Catalyst: Two unusual put contracts totaling $3,043,600 in premium were flagged today. The largest, a $85 strike put expiring March 19, 2027, drew 4,000 contracts with an open interest ratio of 34%. The second is a $115 strike put expiring today, October 9, 2026, with 560 contracts and an open interest ratio of 11%, currently in the money.
• Bull Case: Intel trades at $104.765, which is more than $19 above the $85 strike on the larger put contract, meaning the stock would need to fall over 18% from current levels for that position to pay off at expiration in March 2027. The wide spread between the current price and the out-of-the-money strike could simply reflect hedging activity rather than aggressive directional conviction.
• Bear Case: The $115 strike put is already in the money with today as its expiration date, confirming that Intel has already breached that level and the buyer of that contract is currently profitable. Combined with the large March 2027 position, the total bearish premium of over $3 million signals that institutional-sized players are actively protecting against or betting on further declines.

The forward setup for Intel carries meaningful uncertainty. The in-the-money put expiring today at the $115 strike underscores how far INTC has already fallen from its 52-week high of $142.34, having shed roughly 26% from that peak. The longer-dated March 2027 put at $85 implies at least one options trader sees a scenario where Intel revisits levels closer to its 52-week low of $32.89, though the $85 target would still sit well above that floor. Intel has been navigating a challenging competitive environment in both the data center and PC processor markets, and any further macro headwinds or execution setbacks could accelerate the kind of downside these contracts are positioned to capture. Traders will want to monitor whether today's options flow is a one-off hedge or the beginning of a broader pattern of institutional put buying heading into Intel's next earnings cycle.

INTC Unusual Options Activity

• Contract 1: Put | Strike: $85 | Expiry: March 19, 2027 | Volume: 4,000 | Open Interest Ratio: 34% | Out of the Money | Premium: $2,464,000
• Contract 2: Put | Strike: $115 | Expiry: October 9, 2026 | Volume: 560 | Open Interest Ratio: 11% | In the Money | Premium: $579,600

Both contracts flagged today are puts, with zero calls reported among the unusual flow. The total premium of $3,043,600 is entirely bearish in direction. The expiring $115 put is in the money as of today's session, while the $85 March 2027 put remains out of the money by a wide margin, suggesting a tiered bearish thesis playing out across both near-term and longer-term timeframes.

INTC Seasonality

October has historically been a volatile month for semiconductor stocks, often coinciding with earnings pre-announcement windows and portfolio rebalancing by institutional investors heading into year-end. Bearish options positioning in early October, particularly with a March expiration, could reflect traders setting up hedges ahead of a potentially turbulent fourth-quarter reporting season for Intel.

INTC Relative Performance

Intel's current price of $104.765 reflects a 2.16% decline on the session, underperforming on a day when broader markets and semiconductor peers would need to be outpacing that move to suggest sector-wide pressure is not the primary driver. Trading at roughly 73% of its 52-week high of $142.34 and more than three times its 52-week low of $32.89, Intel occupies a middle-ground position in its annual range that offers little technical clarity on near-term direction without additional confirmation from volume or momentum signals.