INTL.....Here's one reason why Intel, despite narrowly beating profit and revenue projections Tuesday, could have trouble surging far beyond its current $17.65 price shortly: Hopeful option investors have already accumulated more than 100,000 outstanding January 17.50 calls on the chip maker. Because these January calls will expire later this week, some investors will be unwinding those positions over the next three days.
Meanwhile, market makers who buy these about-to-expire calls - often picking them up at a discount - nonetheless have to hedge their exposure, which many do by selling stock. The impact? That massive unwinding could pin the stock close to the $17.50 strike in the immediate term.
