Today’s option tape showed a large sweep on Intel (INTC) – totaling 10,000 contracts – targeting the February 20, 2026 $40 call. The contract tallied a daily volume of 10,493 at the time of the trade. Against open interest of 6,129, this produces a strong V/OI ratio of ~1.71, which indicates fresh positioning rather than simple closing activity.
The contract was bought above the ask, showing urgency, at a price of $2.26, resulting in a sizable premium outlay of ~$2.3 million. With the expiration set for February 20, 2026, the trade has roughly 3 months of time value, suggesting a long-dated outlook on INTC’s future performance.
Volume and Open Interest Data
The volume and open-interest data for the INTC 40C 02/20/2026 contract shows a major spike in trading activity on 11/18/25. Volume surged to 20,896 contracts—dramatically higher than the prior days, which ranged only from a few hundred contracts. Despite this massive influx, open interest rose only modestly to 6,129 from the previous trading session. Notably however, open interest has been steadily creeping up throughout the week’s previous trading sessions.
The contract price held steady around the mid-$2 range, even dipping slightly before recovering to $2.30, while implied volatility hovered around 56–58%, showing no extreme volatility shock despite the outsized order flow. Overall, this surge in volume relative to open interest highlights a significant burst of fresh positioning, consistent with aggressive long-dated call buying.
Trade Side Distribution
The trade-side distribution for the INTC 40C 02/20/2026 contract is overwhelmingly buy-side biased. 70% of the total premium—about $2.3M—executed above the ask, signaling strong urgency and conviction from buyers. An additional 24% ($793.9K) hit directly at the ask, reinforcing the aggressive nature of the order flow.
Only small fractions traded below the bid (4%) or at the bid (2%), showing minimal selling pressure. Overall, the distribution clearly reflects dominant buyer-driven activity, consistent with institutional accumulation and strong sentiment toward Intel’s long-dated $40 calls.
What’s Happening with INTC
Intel (INTC) has recently experienced notable developments, with its stock performance reflecting both positive momentum and industry challenges. The company reported earnings that exceeded analyst expectations, driven by strong demand for its data center and AI-related products. Intel has also ramped up its foundry business and announced new partnerships aimed at expanding its manufacturing capabilities.
However, the company faces ongoing competition in the semiconductor market from rivals like AMD and Nvidia, and is addressing supply chain constraints as well as shifting consumer demand dynamics. These events have prompted mixed reactions from investors and analysts, but collectively underscore Intel’s efforts to innovate and adapt within the rapidly evolving tech landscape.
About INTC
Intel Corporation is a leading American multinational technology company best known for designing and manufacturing semiconductor chips and microprocessors that power a majority of the world’s personal computers and data centers. Founded in 1968 and headquartered in Santa Clara, California, Intel pioneered the x86 architecture and has long been a dominant player in the global computing hardware space.
The company produces CPUs for desktops, laptops, and servers, along with chipsets, integrated graphics, and specialized processors for AI, IoT, and edge computing. Beyond traditional hardware, Intel is also investing in advanced technologies like foundry services, autonomous driving (through its Mobileye subsidiary), and high-performance computing solutions. Its clients range from consumer PC manufacturers to major enterprise, cloud, and government customers worldwide.
Analyst Ratings
| Firm | Rating | Updated |
|---|---|---|
| CFRA | ★★★ (Neutral) | 10/24/2025 |
| Market Edge | Long | 08/21/2025 |
| Argus | Hold | 07/25/2025 |
| Morningstar | ★★ (Bearish) | 10/24/2025 |
| LSEG | Hold | 10/23/2025 |
| Schwab Equity Ratings | C (Neutral) | 10/24/2025 |
The analyst ratings for Intel (INTC) present a cautiously optimistic outlook, with most firms leaning neutral but showing signs of improving sentiment. CFRA maintains a 3-star rating, equivalent to a “Hold”, reflecting balanced risk and reward as of October 24, 2025. Market Edge remains bullish, keeping a “Long” recommendation from August. Argus also rates Intel a “Hold”, consistent with a wait-and-see stance on near-term performance.
Morningstar, however, is more bearish with a 2-star rating, suggesting the stock is overvalued or under pressure despite broader optimism. LSEG also stays neutral with a “Hold”, while Schwab Equity Ratings assigns a “C” grade, implying average fundamentals relative to peers. Overall, the consensus leans neutral-to-moderately bullish, indicating analysts see Intel as a steady long-term play but not without lingering uncertainty in execution and market share recovery.
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Disclaimer: Options trading involves significant risk and is not suitable for all investors. You may lose the entire investment, and certain strategies may result in losses exceeding the initial amount invested. Past performance does not guarantee future results. This content is for informational purposes only and should not be considered investment advice. Always consult a financial or tax advisor before making investment decisions.
