With Intel scheduled to report fourth-quarter earnings after the bell Thursday, options traders are expecting to see a notable reaction in the tech giant's stock price.
On Wednesday, the options market implied a 4.5 percent one-day move for Intel, based on January options that expire Friday. That's much larger than the stock's average post-earnings move of 2 percent over the past four quarters.
Traders can find the magnitude of expected moves by examining options prices. Specifically, the implied move is considered to be the price of simultaneously buying a call option and a put options that are both "at the money," which would be a way to make an outright bet on a move higher or lower for the stock.