Sometimes, a trade works out even faster than expected. That’s exactly what happened with the options setup I put on Intel (INTC) earlier this week.
The goal was simple — buy deep in-the-money calls for 2027, sell shorter-term calls for income, and look for Intel to make a push above $23.50 by April.
Well, it didn’t take until April. Intel is up 16% this afternoon, blasting through $24 and hitting the exact target I was looking for.
Let’s look at how I did it.
How the Trade Was Built
This setup was designed to take advantage of a potential rebound while keeping risk manageable. Here’s how it worked:
- Bought a long-term deep in-the-money call for 2027. This gave exposure to Intel’s upside without tying up as much capital as buying shares outright.
- Sold an April $23.50 call against it. This generated income while capping the upside, turning the position into a diagonal spread.
- The goal was for Intel to trade above $23.50 by April expiration, allowing for a profitable exit.
Intel had been beaten down, but the stock was showing signs of stabilizing. Instead of chasing momentum, this trade allowed for time to work in my favor.
Mission Accomplished — What’s Next?
Now that Intel has ripped past $24, this trade has already hit its target weeks ahead of schedule. Traders who took the same setup have a decision to make: Lock in profits now or let the trade ride and collect maximum gains at expiration.
Personally, I’m not going to get greedy. With a 16% move in a single day, it makes sense to take the win and move on to the next opportunity.
I’m going to go ahead and protect profit on it today:
- $15.50 debit.
- $17.10 credit.
- +$1.60 per contract within 24 hours.
Could Intel keep running? Sure. But options traders know that when a trade works this well, this fast, you don’t sit around and wait for something to go wrong.
There will always be another setup, another stock, another trade. The goal isn’t just to be right — it’s to take profits when they’re there and keep moving forward.
I’ll see you in the markets.
Chris Pulver
Chris Pulver Trading
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*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
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