DailyPlay – Opening Trade (INTC) – November 12, 2024

INTC Bullish Opening Trade Signal

Investment Rationale

Intel Corporation (INTC) recently broke out above its trading range with strong momentum and is outperforming the S&P 500, presenting an opportunity for further upside toward our $30 target. The company is modestly undervalued, and with its focus on cost-cutting and successfully navigating restructuring and impairment expenses, the outlook is becoming more optimistic due to operational improvements. As INTC continues to reduce costs and move past these restructuring and impairment challenges, the future looks promising, with operating margins returning to normal and revenue expectations being consistently exceeded.

INTC – Daily

Trade Details

Strategy Details

Strategy: Long Call

Direction: Bullish Calls

Details: Buy to Open 4 INTC Jan 17 $21 Call @ $4.70 Debit per Contract.

Total Risk: This trade has a max risk of $1,880 (4 Contract x $470) based on a hypothetical $100,000 portfolio normally risking 2%. We suggest using 2% of your portfolio value and divide it by $470 to select the # contracts for your portfolio.

Trend Continuation Signal: This is a bullish trade on a stock that is expected to bounce higher off recent support.

1M/6M Trends: Bullish/Neutral

Relative Strength: 3/10

OptionsPlay Score: 78

Stop Loss: @ $2.35 (50% loss of premium paid)

View INTC Trade

Entering the Trade

Use the following details to enter the trade on your trading platform. Please note that whenever there is a multi-leg option strategy, it should be entered as a single trade. 

PLEASE NOTE that these prices are based on Monday’s closing prices. Should the underlying move significantly during the pre-market hours, we will likely adjust the strikes and prices to reflect a more accurate trade entry. 

View INTC Trade