Update:
We posted this to twitter last night after INTC missed earnings and was down -10% after hours.
$INTC is -10% after ER’s. There is a lot of OI at 50, particularly in puts. The bulk of those positions sit in the 11/20 exp, so there could be extended pressure into low 40s. (Often in the momo tech names the large OI is concentrated in the weekly exp) pic.twitter.com/1ZigbHIix1
— spotgamma (@spotgamma) October 22, 2020
There was little bounce in the morning save for what was likely a brief short cover. We’ll be tracking this name to see if it continues to be under pressure.
