Shares of computer processor maker Intel (NASDAQ:INTC) fell 9.6% in the afternoon session after the company reported an unexpected second-quarter loss and announced significant restructuring plans, including major job cuts.

Today, heavy unusual trading in Intel Corp. (INTC) put options that are out-of-the-money (OTM) could spell trouble for INTC stock over the next month. The company's Q2 results yesterday did not encourage investors.

Intel (INTC) is scheduled to report earnings after the closing bell today, with traders anticipating a sizable move from the struggling chipmaker's stock. Options pricing suggests traders expect Intel's stock could move more than 7% from its recent level near $23 by the end Friday’s trading session.