Intel Options Traders Betting On Stock Moving Higher By June Expiration

Intel Corporation INTC shares moved higher on Wednesday amid the company's presentation at TD Cowen's 51st Annual Technology, Media & Telecom Conference.

On CNBC’s "Options Action," Kevin Kelly of Kelly Intelligence said Intel saw a lot of option trading volume on Wednesday. There were four times more calls than puts on the stock.

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There were buyers of 15,299 of the June 32-calls at an average price of 97 cents per contract, Kelly mentioned.

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The trader expects Intel’s shares moving higher by June expiration.

Last month, the Santa Clara, California-based company reported better-than-expected earnings and sales results for the first quarter and issued guidance.

Price Action: Intel shares gained 4.8% to close at $31.44 on Wednesday, and added 0.8% in today’s pre-market trading session.

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