Intel has been positioning for growth in mobile devices, and the bulls are positioning for a rally.
The option paper was flowing in the chip maker yesterday, with more than 388,000 contracts trading in total. Of those, more than 238,000 were upside calls.
OptionMonster's tracking systems detected a giant trade in the August 25 contracts, which were sold and rolled up to the September 27 and January 28 strikes, a bullish move that is looking for more gains by later expirations. Big chunks of 15,000 and 17,000 contracts traded in those.