Intel (NASDAQ: INTC) is recently up $1.08 to $18.10 in pre-open trading. Needham says "Blow through expectations with strong margins; reiterate Buy and raise PT to $21." INTC reported better than expected Q2 EPS. July 18 straddle is priced at $1.33; August 18 is priced at $1.79. INTC August option implied volatility is at 36; below its 26-week average of 49, according to Track Data suggesting decreasing price movement after EPS.
CBOE Volatility Index S&P 500 Options VIX closed down 1.26 to 25.05, near a ten-month low.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
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