The big earnings loser last week was Intel (INTC), the semiconductor giant. INTC badly missed earnings with a delay in production of their next-gen chip.
The stock price dropped over 16% on the day after earnings were announced. As you’d expect, options volume was very high during the move, with a surprising amount of action in calls.
One interesting trade was a collar trade tied to stock. A trader bought stock while simultaneously selling January calls and using the proceeds to buy January puts. A collar is generally considered a defensive trade.
