Intel has enjoyed a nice run this quarter, and now the bulls are moving their positions higher and out in time.
OptionMonster's tracking programs show that traders sold the June 26 calls yesterday and bought the July 27s. Blocks of 40,000 contracts in each traded for a net cost of $0.11.
Long calls lock in the price where the stock can be purchased, allowing them to track movements in the underlying share price. Rolling them from one month to the next keeps investors positioned to profit from gains while limiting the cost.