Owning this stock is like putting money in a hole in the ground. Hopefully their dividend is more than inflation because otherwise you will be losing purchasing power every single day you own this giant flaming turd of a stock. Notice I said stock not company, because in a sane world this wouldn't trade at 5X EBITDA but this is not a sane world. We need leverage to growth and intel don't have it, so it will be the owner of an ever compressing multiple for at least the next 20 years.
I guess INTC is going to be spending a lot of money. AMAT is doing well today. With intc you can get the dividends and sell both the puts and calls a little out of the money and enhance that div. I think thats a good safe way to get about 10% a year which is what Madoof bragged he was doing.
If you ever had to buy as a result of a sold put that would seem to be fine as INTC always will revert back to the 20-22 range and you can unload any shares put to you at that time
Sell 20 puts in january of 12 and buy 22.50 calls. Put a years worth of dividends in your pocket today and you get any upside over 22.50. There probably isn't any upside over that number but if there is it is yours.