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Fast Money 360: Intel

With shares of Intel down 7% over the past 3 months, how should you game this stock into – and in the wake of – earnings Tuesday.

Seems like a good time for Fast Money 360.

Find out what fundamentals, technicals and insights from the options world all suggest lie ahead for this stock.

FUNDAMENTALS

Craig Berger of FBR Capital Markets is cautious.

He says “Intel is likely to report in-line results and guidance,” an earnings report he characterizes as “rather unexciting.”

But it’s not the lack of excitement that has Berger concerned. It’s the fact that the PC market may be challenged.

“(Not only have ) PC bill checks been weakening of late but iPads and smart phones are cannibalizing the PC market,” he says.

As a result, he concludes, “With little growth showing in Intel’s second quarter, we think shares are range bound at best.”

CHARTS

Oppenheimer’s Carter Worth isn’t necessarily bearish, but he’s hardly bullish.

Intel’s a stock that has been “wandering around in a range for the better part of two years. And it looks like nothing more but the same regardless of what earnings are going to be.”

”We would leave it alone going into earnings,” he counsels.

OPTIONS

Brian Stutland of Stutland Equities tells that desk that over the last 8 quarters the median move for Intel has been around 2.5%. However, this time the move could be a little bigger.

”Options traders have been betting that Intel exceeds those expectations by moving more than that 40 cents or so,” he says.

And it seems at least some options investors may be bullish. “20 thousand June calls were purchased last Thursday,” according to Stutland. And “June buying has continued through today.”

OTHER INSIGHTS

Trader Brian Kelly remains short the SMH because he’s bearish on micro-chips broadly. “I wouldn’t go near Intel at this point,” he says.






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Trader disclosure: On April 18, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour owns (AA); Seymour owns (BX); Seymour owns (F); Seymour owns (POT); Finerman and Finerman's firm own (AAPL); Finerman and Finerman's firm own (BP); Finerman and Finerman's firm own (CVS); Finerman owns (C); Finerman's firm is long (IBM); Finerman's firm owns (JPM), is long (JPM) leaps; Finerman owns (JPM); FInerman and Finerman's firm own (MSFT); Finerman's firm is long (TGT); Finerman owns (UNG); Finerman owns (USO); Finerman's firm is long (WMT); Finerman's firm is short (IWM); FInerman's firm is short (MDY); Finerman's firm is short (SPY); Finerman's firm is short (IJR); Finermna's firm is long S&P 500 puts; Finerman's firm is long Russell 2000 puts; Adami owns (AGU); Adami owns (C); Adami owns (GS); Adami owns (INTC); Adami owns (MSFT); Adami owns (NUE); Adami owns (NG); Adami owns (BTU); Jon Najarian owns (MA) is short (MA) calls; Jon Najarian owns (AXP) is short (AXP) calls; Jon Najarian owns (CBOE) is short (CBOE) calls; Jon Najarian owns (CME) is short (CME) calls; Jon Najarian owns (NYX) is short (NYX) calls; Jon Najarian owns (TYC) is short (TYC) calls; Jon Najarian owns (SLV) is short (SLV) calls; Jon Najarian owns (SLW) is short (SLW) calls

For Brian Kelly
Accounts Managed By Brian Kelly Capital are long (EBAY)
Accounts Managed By Brian Kelly Capital are long (GLD)
Accounts Managed By Brian Kelly Capital are long (MCP) calls
Accounts Managed By Brian Kelly Capital are long (SLV)
Accounts Managed By Brian Kelly Capital are long (SPY) puts
Accounts Managed By Brian Kelly Capital are short (XLF)
Accounts Managed By Brian Kelly Capital are long VIX calls
Accounts Managed By Brian Kelly Capital are long (FXY) puts
Accounts Managed By Brian Kelly Capital are long gold futures
Accounts Managed By Brian Kelly Capital are long silver futures
Accounts Managed By Brian Kelly Capital are long natural gas futures

For Dennis Gartman
Funds Managed by dennis Gartman are short 10 yr U.S. Treasuries
Funds managed by Dennis Gartman are short euros
Funds managed by Dennis Gartman are long gold
Funds managed by Dennis Gartman are long July Silver futures contracts
Funds managed by Dennis Gartman are short WTI crude
Funds Managed by Dennis Gartman are long Brent Crude
Funds Managed by Dennis Gartman are long soybeans
Funds managed by Dennis Gartman are long corn
Funds managed by Dennis Gartman are long Canadian Dollars, Australian Dollars, Swiss Francs
Funds Managed by Dennis Gartman are long sugar
Funds managed by Dennis Gartman are long nat gas
Funds Managed by Dennis Gartman are short pounds
Funds Managed by dennis Gartman are short 10 yr Canadian bonds

For Tim Seymour
Seygem Asset Management owns (MTL)

For Brian Stutland
Stutland Owns (INTC), Is Short (INTC) Calls

For Mike Khouw
Cantor Fitzgerald is a market maker in (AAPL)
Cantor Fitzgerald is a market maker in (IWM)

For Craig Berger
FBR Capital Markets Is A Market Maker Or Liquidity Provider For (INTC)

For Anthony Scaramucci
SkyBridge Is A Fund Of Funds Manager
Funds Held May Or May Not Own The Recommended Securities

For Tavis McCourt
Morgan Keegan & Co., Inc. expects to receive or intends to seek compensation for investment banking services from (GLUU), (KNOL), and (PGI) in the next 3 months
Morgan Keegan & Co., Inc. has received compensation for investment banking services from (PGI) in the past 12 months
An affiliate of Morgan Keegan & Company, Inc. received compensation for products or services other than investment banking from (KNOL) in the past 12 months
Morgan Keegan does not allow its analysts or their immediate family members to hold a position of any kind in the securities of the companies they follow

For Carter Worth
***No Disclosures

Sean Egan
**No Disclosures


CNBC.com with wires.

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