Intel fell from a June peak near $142, breaking its 50-day average near $103 toward the 200-day near $84.5. A bullish November call spread (buy $92.5, sell $105) breaks even at $97 and works only if Intel bounces and the Nasdaq and Philadelphia Semiconductor index rise, with Oct 29 earnings a possible catalyst.

JPMorgan Chase upgrades Intel's rating to neutral from underweight , while maintaining its price target at $85. The company sees a better balance between risk and return as the stock approaches its target price.

JPMorgan Chase believes that Intel's performance and competitiveness in the core computing data center market have improved since Pat Gelsinger was appointed CEO.

Intel's stock has fallen significantly this month, but it is still up more than 135% year-over-year. Okay, I'm going to give you a long-term chart here to give you some context for what we've seen from Intel over the past three years.

About 3 years ago, the stock was trading at around $35 per share , then it dropped to below $20 per share in April 2025. We saw a fairly large sell-off, then a period of stabilization, and as we entered 2026, we saw a sharp upward move .

It has risen by about 153% in the last 3 years to currently stand at around $93 per share.

So, this gives you some context for what we've seen in the stock's performance. The sharp upward movement we saw in 2026 was related to all the chip stocks we saw in this sector.

Now, if we narrow down the scope, using a graph for one year and one day , it gives you a clearer picture of what we have seen recently. Remember that the stock peaked at around $142, and that was in June.

We have seen this pullback, but it is a natural consequence of what we have seen in semiconductor stocks following that sharp upward move in the first six months of 2026.

Now, we are breaking some key levels. The 50-day simple moving average is at around $103. We have broken that level. You will see this significant drop so far since the beginning of October , as it has started to approach the 200-day simple moving average.

It is at around $84.5 per share. Therefore, there are some key levels to watch before earnings are announced in two weeks.

She sees that the momentum of the Relative Strength Index (RSI) somewhat reflects what we have seen in the stock price here. It has dropped to around level 30. Any level below 30 is considered to be in a "sold oversold" state from a technical perspective.

We are seeing a rebound in today's pre-market trading. This trend may reverse , but we are still below the 50 level halfway through in terms of momentum and the Relative Strength Index.

Now, start looking at some of the levels here that might act as resistance. The $100 per share level will serve as a pivot point in terms of trading volume. Then we reach approximately 108, reaching a peak of around $120 per share.

So, the large double-digit declines we saw last week are somewhat a continuation of the trend we 've seen in the sector and at Intel. Well, as you know, they have earnings later this month on the 29th.

Therefore, this could be a key motivating factor.

Therefore, I increased the time period. If you have a specific bias for this stock, the example you gave is something that leans upwards if you think the stock will bounce back.

We will probably need to see the Nasdaq index and the Philadelphia Semiconductor Fund start moving upwards if we want this to happen. But I chose the November option. That is, 32 days until expiry.

I have been at this center for a little over a month. I will also be able to take advantage of any potential upside catalyst when earnings are announced.

We will purchase an "in-the-money" call option at an execution price of $92.5. Then, in return, to offset some of the cost of buying this bullish call option, we will sell a call option with an execution price of 105.

So, it is a bullish vertical call option trade worth $12.5. You will pay approximately $450 as a discount. This is your risk, $450 per spread for a potential profit of $800 if we go back above the 105 level.

This raises my breakeven point to $97 here for the upward move, and that would only be about 3.8% above the current stock price . I think the key to this deal is that you have a term of more than a month.

The break-even point is lower than what the options market is pricing in for it. Then you have some flexibility regarding trading management. You don't need to wait 32 days to close this deal.

It gives you some flexibility by allowing you to buy a vertical call option in an upward direction.