For questions 15-17: Intel Corp. (US ticker: INTC) is expected to release its Q2 earnings on July 23. INTC is currently trading at $57.50. Premia on the August $55, $57.50 and $60 INTC call options are currently $7.00, $4.50, and $3.00, respectively. And on the August $55, $57.50 and $60 INTC put options, premia are currently $3.50, $5.00, and $7.00, respectively.

15. Based on your fundamental analysis, INTC should moderately beat Q2 consensus EPS expectations. The best option strategy to maximize profit from your INTC view is:

A)$55 $60 bull call spread

B) A $55 $57.50 bull call spread

C) A $55 $57.50 bull put spread

D) A $57.50 $60 bull call spread

E) A $57.50 $60 bull put spread

16. An analyst you follow and trust has issued a sell recommendation for INTC on a weak Q2 EPS forecast. The best option strategy you to maximize profit from his INTC view is:

A) A $60 $55 bear call spread

B) A $57.50 $55 bear put spread

C) A $57.50 $55 bear call spread

D) A $60 $57.50 bear put spread

E) A $60 $57.50 bear call spread

17. Your quantitative model is pointing to heightened INTC stock price volatility around the Q2 earnings announcement but cannot determine the stock prices post-earnings direction. The best option strategy to profit from your models output on INTC with minimal exposure is:

A) $57.50 straddle

B) A $55 $60 strangle

C) A $57.50 $60 strangle

D) A $55 $57.50 strangle

E) A $60 straddle