INTC has tacked on 29% over the past 12 months
Joining the busy earnings slate this week is Dow name Intel Corporation (NASDAQ:INTC). The company is scheduled to report after the close tomorrow, Jan. 23. Below we will take a look at how INTC has been faring on the charts, and what the options market is pricing in for post-earnings moves. At last check, the equity is up 3% at $62.28, and earlier touched a 20-year high of $62.48.
Since early October, INTC has seen a healthy leg of support at the 40-day moving average, a trendline that has captured multiple pullbacks as recently as mid-December. Today's lift looks to be an extension off yesterday's slew of bull notes, which included an upgrade to "hold" from "underperform" at Jefferies. Year-over-year, Intel stock is up 29%.
Digging into Intel's earnings history, the stock has closed lower the day after reporting in five of the past eight quarters. During this time frame, Intel stock has averaged a 5.8% swing, regardless of direction. This time around, the options market is estimating larger-than-usual, 7.8% move for Friday's trading.
Analysts have been leaning pessimistic for the tech name. Coming into today, 18 covering analysts sport a "hold" or worse rating, while the stock's average 12-month price target comes in 6% below current trading levels
Lastly, the equity's Schaeffer's put/call open interest ratio (SOIR) of 1.16 sits in the 92nd percentile of its annual range. This means short-term speculators are more put-heavy than usual.