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Moderately bullish activity in Intel with shares up 2.1%

Moderately bullish activity in Intel (INTC), with shares up 60c, or 2.1%, near $29.36. Options volume roughly in line with average with 733k contracts traded and calls leading puts for a put/call ratio of 0.41, compared to a typical level near 0.46. Implied volatility (IV30) is higher by 1.6 points near 56.39,and above the 52wk median, suggesting an expected daily move of $1.04. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Buy at Benchmark.

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