Intel options were active earlier in the week, and yesterday the buying hit right at the top of CNBC's "Fast Money Halftime Report."
optionMONSTER's Heat Seeker scanners detected heavy volume in the June 23 calls and the July 25s as traders once again rolled their positions to higher strikes in longer-dated contracts. This time, they sold the June 23s for $1.83 and bought the July 25s for $0.74.
These long calls lock in the price where the chip maker's shares can be bought, so they can track movements in the stock price cheaply and leverage any rally. On Tuesday , bullish call positions were rolled up from the June 26s to the July 27s. (See our Education section)
INTC rose 2.17 percent to $24.99 yesterday. Almost 99,000 calls traded versus fewer than 28,000 puts, further indication of the session's bullish sentiment.
Disclosure: I own INTC calls.
(A version of this post appeared on InsideOptions Pro yesterday.)
More From optionMONSTER
- Show of support for Magnum Hunter
- Audiocast: Traders bet VIX will drop
- J.C. Penney faces downside position
- Investment & Company Information