Stock price
$116.00
Strike
$100
Expiry
Oct 30, 2026
Credit (mid)
$2.945
Breakeven
$97.06
Annualized
34.7%
The trade in one look
Sell to open one $INTC Oct 30, 2026 $100 put for about $2.945 ($294.50 per contract). You reserve $10,000 in cash. Breakeven is $97.06, 16.3% below the $116.00 stock price. The idea dies if $INTC closes below $105, or if you are still holding on Oct 22, the estimated earnings date.
The setup in 30 seconds
Intel ($INTC) has run hard. At $116.00 it sits 45% above its 200-day average of $79.96, and options are priced for big swings: 30-day implied volatility is 72.4%.
That high volatility is what makes the put pay. A $100 strike, 16% under the stock, still collects $294.50 for 31 days. The catch is the Oct 22 earnings date, which lands inside the window.
What a cash-secured put is
You sell someone the right to sell you 100 shares at the strike price, and you get paid up front for it. You keep the full $10,000 in cash in case you have to buy. If the stock stays above $100 at expiry, you keep the premium and the cash is freed.
The trade
| Item | Value |
|---|---|
| Contract | Sell to open $INTC Oct 30, 2026 $100 put (INTC261030P00100000) |
| Days to expiry | 31 |
| Delta | 0.20 |
| Bid / ask / mid | $2.89 / $3.00 / $2.945 |
| Limit range | $2.92–$3.00 (limit order only, start at the $2.95 mid) |
| Cash reserved | $10,000 per contract |
| Breakeven | $97.06 (16.3% below $116.00) |
| Max return | $294.50 per contract = 2.95% in 31 days (34.7% annualized) |
| Max loss | $9,705.50 per contract if $INTC went to zero |
| Liquidity | Open interest 1,662, volume 252 today, spread 3.7% of mid |
Cboe delayed snapshot at 3:44 PM ET, Sep 29, 2026. The entry window ends at 3:55 PM ET; after that, re-price at the next open. Annualized figures assume you could repeat the trade, which is never guaranteed.
Why this stock, why now
Technicals. RSI(14) is 58.4, warm but not overbought. The stock trades above its 20-day ($107.19), 50-day ($99.85) and 200-day ($79.96) averages, and the $100 strike sits right on the 50-day line. Today's volume is running at 0.65× its 20-day average, so the tape is calm. In plain terms: the trend is up, and the strike is parked at the first real support.
Valuation. After a run like this, $INTC is priced on recovery hopes, not on today's profits. Nasdaq's Zacks consensus sees Q3 EPS of $0.28 versus $0.11 a year ago, so growth has to keep showing up. In plain terms: the price already assumes the turnaround keeps working.
Income. Implied volatility of 72.4% sits about in line with 60-day realized volatility of 73.7% (20-day: 73.6%). You are not getting a big volatility discount or premium; you are being paid for how much the stock really moves. In plain terms: the premium is fair for a wild stock, not a gift.
Calendar. Earnings are estimated for Oct 22 (Zacks via Nasdaq, not yet confirmed by Intel), eight days before expiry. The September jobs report lands Friday, Oct 2, with the 10-year yield already above 5%. In plain terms: plan to be out before earnings, and expect jumpy days around the jobs data.
| Ticker | RSI(14) | Strike | OI | Spread | Annualized | Result |
|---|---|---|---|---|---|---|
| $INTC | 58.4 | $100 | 1,662 | 3.7% | 34.7% | pass |
| $AAPL | 51.1 | $315 | 1,149 | 6.3% | 14.9% | pass |
| $AEHR | 53.3 | $85 | 34 | 38.5% | 75.5% | OI < 500 |
| $BE | 52.7 | $250 | 372 | 12.7% | 48.3% | OI < 500 |
| $CRDO | 49.6 | $170 | 426 | 10.5% | 46.1% | OI < 500 |
| $AKAM | 47.5 | $95 | 27 | 27.8% | 39.9% | OI < 500 |
| $RKLB | 55.7 | $62 | 225 | 15.5% | 39.1% | OI < 500 |
| $AMKR | 53.6 | $46 | 18 | 40.0% | 38.4% | OI < 500 |
| $ENPH | 28.2 | $27 | 45 | 61.0% | 35.8% | OI < 500 |
| $CDNS | 61.5 | $295 | 7 | 26.2% | 27.4% | OI < 500 |
| $MSFT | 59.4 | $475 | 552 | 8.2% | 16.7% | spread > 8% |
The exit plan
- Take profit: buy back at about $1.47 (50% of the credit) or $1.18 (60%).
- Time exit: close by Oct 16 (14 DTE) at the latest, which is also before the Oct 22 earnings date.
- Roll trigger: a daily close below $105 means roll down and out to a lower strike in a later month, for a net credit only.
- If assigned: you own 100 shares at a $97.06 net cost. Sell covered calls at $100 or higher to keep wheeling.
What invalidates the idea
A daily close below $105 breaks the short-term trend and puts the strike in play. So does any sign that Intel moves its earnings date earlier, into your holding window.
Earnings-aware setup
The estimated Oct 22 earnings date falls inside this 31-day window. That is why the delta sits at the bottom of the band (0.20) and why the plan exits by Oct 16. Holding through earnings turns a premium trade into a coin flip on one report.
What could go wrong
- A sharp pullback. The stock is 45% above its 200-day average, and extended stocks can give back 15% fast.
- Earnings risk. If you skip the Oct 16 exit, one report can gap the stock through $100.
- Rates. A hot jobs report on Oct 2 could push yields higher and hit richly priced tech names.
Beginner corner
Delta 0.20 roughly means the market sees about a 1-in-5 chance the put finishes in the money. That is not a promise. Only sell the put if you would be fine owning 100 shares of $INTC at $97.06.
This fits a seller who wants a deep 16% cushion and will exit before the Oct 22 earnings. Skip it if $10,000 in one volatile chip stock is too much, or if you would hold through the report.
Sources
- [1]INTC delayed options quotes (chain snapshot 15:44 ET) — Cboe · Accessed 2026-09-29 · Tier 1
- [2]INTC earnings date (Zacks estimate) — Nasdaq · Accessed 2026-09-29 · Tier 2
- [3]INTC historical daily prices — Financial Modeling Prep · Accessed 2026-09-29 · Tier 3
- [4]Employment Situation release schedule — U.S. Bureau of Labor Statistics · Accessed 2026-09-29 · Tier 1
This content is for informational and educational purposes only and is not financial advice. Options involve risk and are not suitable for every investor. Do your own research before trading.
