Traders Expecting 3.5% Move In Intel Following Earnings
Speaking to Benzinga, TD Ameritrade Chief Strategist JJ Kinahan discussed Intel Corporation (NASDAQ: INTC) ahead of its earnings report.
Kinahan noted that the stock was down nearly 11 percent since its last earnings report.
Based on implied volatility in the options market, traders expected the stock to move (up or down) approximately 3.5 percent following earnings, according to Kinahan.
As of Monday, increased buying activity was seen in the weekly $31 Puts, while Puts overall traded twice the normal volume.
Kinahan added that Calls only traded 0.85 percent above the typical volume on Monday.
Intel reports Q1 earnings Tuesday following the market close and heading into the report it traded at $31.59, down 0.44 percent.
Kevin Riley and Brianna Valleskey contributed to this report.
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