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REDDIT

INTC sitting in short-gamma territory right now, this earnings feels different

M
Jul 20, 2026 · 10:43

Been watching $INTC closely and the options positioning is kinda wild heading into earnings.

Price was hovering around $95, down about 2% on the day, and it's sitting below the gamma flip at $97. That means dealers are hedging directionally, so any move tends to accelerate instead of getting absorbed. Not a pinning environment at all.

The put wall at $96 is the level to watch. If that breaks, a short-gamma regime basically means you could see a fast drop with nothing to slow it down. The call wall up at $100 is the ceiling if bulls try to take control.

Pulled this from moomoo's Gamma Exposure tool and honestly it laid out the setup really clearly. Not taking a directional bet myself but the mechanical risk here is real.

Anyone positioning for the earnings move, or sitting this one out?

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