Today, there is a large tranche of in-the-money Intel Corp (INTC) call options. Investors are playing volatility ahead of earnings, due to be released on Thursday, July 23, after the market close.
INTC is up over 3.7% today at $99.24 in midday trading. I discussed Intel's upcoming earnings today and a high-yield short-put play in my earlier Barchart article, “Intel Stock Is Down, But Put Premiums are High - Put Short Sellers Love the High Yields.”