Intel Corp (NASDAQ:INTC) stock is up 7.2% to trade at $104.13 this morning, after Reuters reported South Korean chipmaker SK Hynix (SKHY) was in exploratory talks with Intel to manufacture its memory chips in the U.S. Intel's Ohio facility would be leased, though no final decision has been made. SKHY is up 2.2% to trade at $178.63 in response.
Intel stock boasts a 174% year-to-date lead, but is nearly 30% off its June 30 all-time high of $142.35. The shares have now staged roughly two bounces off $80 since late April.
Analysts remain on the fence, and a shift in sentiment could keep the wind at INTC's back. Of the 46 brokerages covering the stock, 34 maintain "hold" or "strong sell" ratings.
Options traders are loading up on calls. In just the first hour of trading, over 278,000 calls have changed hands, volume that's double the average intraday amount and more than double the number of puts exchanged. The daily 9/16 103-strike call is leading the charge amid zero-day flow, while the standard September 105 call expiring on Friday is also popular.
