Intel Options Imply 6.5% Move After Q2 Earnings

Intel Corporation INTC is expected to release quarterly results after the closing bell Thursday. 

On CNBC’s "Options Action," Kevin Kelly of Kelly Intelligence said there were 1.73x more calls than puts on Intel during the Wednesday’s session. Heading into earnings, options markets are implying a move of around +/-6.45%, which is less than the 7.5% move seen over the last eight quarters.

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There was a buyer of 20,000 of the October 27-calls at an average price of around $7.65 per contract, Kelly mentioned.

Traders expect Intel’s stock moving higher through October expiration.

Analysts expect the company to post a quarterly loss at 3 cents per share, versus a year-ago profit of 29 cents per share. The company’s revenue might come in at $10.97 billion.

Price Action: Intel shares gained 0.8% to close at $34.36 on Wednesday, and were adding 0.9% intraday Thursday.  

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