Intel below $21 on big down day in the market.
Add 1/5 position of $20 puts for Dec 18 for $.24 with volatility elevated.
Worse case the stock continues to fall and final lot will be acquired at net cost below $19.8 (below $20 acquisition target). Also is stock falls the covered call recently acquired will expire providing more down side risk.
Best Case - Intc bounces back from global market pressures more quickly and this option can return 1+% over 5 weeks or nearly 10% annualized.