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September 21, 2016  Wed 8:22 AM CT

INTC: SEE CHART GET CHAIN FIND STRATEGIES

Traders are looking for the bullish momentum to continue for Intel.

optionMONSTER's monitoring program shows that more than 60,000 November 41 calls were purchased for $0.13 to $0.19 yesterday. This represents fresh buying, as open interest in the strike was only 415 contracts before the session began.

Long calls lock in the price where investors can buy stock, allowing them to profit from a rally with limited capital at risk. Their cheap cost can also generate significant leverage on a percentage basis if shares move in the right direction. (See our Education section)

INTC slipped 0.05 percent to $37.14 yesterday but is up 16 percent in the last three months. The chip giant is scheduled to report earnings after the close on Oct. 18.

Overall option volume in the name was twice its daily average yesterday. Calls outnumbered puts by a bullish 4-to-1 ratio.

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