Intel Options Traders Betting On Stock Surging At Least This Much By February Expiration

Intel Corporation INTC is all set to report its latest quarterly earnings report after the closing bell on Thursday, Jan. 26, 2023. Analysts expect the company to report quarterly earnings at 20 cents per share on revenue of $14.45 billion.

Intel and the rest of the chip sector are outperforming the broader market this year. The company’s stock jumped more than 11% year-to-date.

On CNBC’s "Options Action," Brian Stutland of Equity Armor Investments, LLC said options traders are looking for a move of plus or minus 8.65% following the release of earnings.

Don’t forget to check out our premarket coverage here.

There was a buyer of 1,500 of the February 34-calls at an average price of 15 cents per contract, Stutland mentioned.

The trader expects Intel’s stock rising at least 15% by February expiration.

Price Action: Shares of Intel fell 0.7% to close at $29.70 on Wednesday, and added 0.1% in the after-hours trading session.

Check This Out: Check Out 3 High-Yielding Dividend Stocks In Consumer Sector From Benzinga's Most Accurate Analysts

Photo courtesy of Intel.