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Intel (INTC) has staged one of the most dramatic runs in the semiconductor space this year. Shares have more than doubled year-to-date (YTD), reclaiming levels not seen in decades and forcing investors to reassess both the company’s long-term prospects and its near-term risk profile.
Whenever a company experiences such a rapid repricing, the debate tends to shift from whether the story has improved to how much of that improvement is already reflected in the stock. That tension is now clearly visible in the options market. Based on current pricing, the expected move in Intel shares through July 2026 now exceeds 23% in either direction.
