Options Trader Sees Intel Shares Surging This Much By December Expiration
Portfolio Pulse from Lisa Levin
Intel Corporation's shares fell more than 4% on Tuesday and closed lower on Wednesday. Despite this, an options trader predicts a surge of around 10% by December. This prediction is based on the buying of more than 18,000 of the Dec. 15 $38-calls at an average price of $1.23 per contract. Intel's Innovation 2023 event, focused on AI, is seen as the main driving force behind this prediction.
September 21, 2023 | 12:40 pm
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Intel's shares have been predicted to surge by around 10% by December, despite recent falls. This is based on the buying of Dec. 15 $38-calls and the company's focus on AI.
The prediction of a surge in Intel's shares is based on the buying of more than 18,000 of the Dec. 15 $38-calls at an average price of $1.23 per contract. This, combined with the company's focus on AI as revealed in their Innovation 2023 event, is seen as a positive sign for the company's stock.
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