# Every intel chip, explained

> Each intel chip on Scalpel's scan rows and desk strips, from Selling and Warrants near to FDA, Can't short and Short fee: what it means for a long trade.

Source: https://scalpeltrade.com/guides/intel-chips
Guide 9.5, Intel: borrow, dilution and catalysts. Beginner, 5 min read.
Checked with Scalpel 1.12.8 on 2026-10-15. By Scalpel Team.

**In short:**

Scalpel's intel chips are three reads in a word or two. Dilution chips (red **Selling** and **Warrants near**, amber **Dilution**, grey **Can dilute**) say whether the company can sell stock into your move. Catalyst chips (**FDA 4m**, **Deal 2h**, **Fluff PR 16h**, red **Offering 5m**) say why it is moving and how good the news is. Violet borrow chips (**Can't short**, **Short fee 85%**, **Hard to short**) say whether shorts are trapped. Hover any chip for what it means for a long trade and the facts behind it.

Chips sit in the **INTEL** column of every scan panel and in the intel strip under a desk's header. They are deliberately short, so you can read three of them in the time it takes a stock to tick. This page lists every chip, what it means for a long trade, and where to read more.

**Before you start:**

- Intel on ([guide 9.1](https://scalpeltrade.com/guides/set-up-intel)). Dilution chips also need the SEC contact email.

*Screenshot: Every intel chip, grouped by the read it comes from, in the app's colours.*

## Dilution chips

Is the company about to sell stock into your move? Details in [guide 9.2](https://scalpeltrade.com/guides/check-dilution).

| Chip | Colour | When | What it means for a long |
|---|---|---|---|
| **Selling 21h** | Red | A financing filing in the last 7 days. The time is its age | The company filed to sell stock 21 hours ago. Expect a seller on every spike; breakouts tend to fail |
| **Warrants near** | Red | Warrants or convertible notes can be cashed in at, below or within 10% above the price (needs an OpenAI key to find the prices) | Severe dilution risk without a fresh filing: holders can cash in and sell |
| **Dilution** | Amber | High risk: a financing 8 to 30 days ago, or a shelf with little cash or frequent sales | It can sell stock any time and probably needs to. Spikes can get sold into |
| **Can dilute** | Grey | Medium risk: a shelf, under a year of cash, fast share growth or a recent sale | It is set up to sell stock if the price runs. Watch for a new filing |

## Catalyst chips

Why is it moving, and is the reason any good? The chip is the kind of news and its age. Details in [guide 9.4](https://scalpeltrade.com/guides/catalyst-grading).

| Chip | Colour | When | What it means for a long |
|---|---|---|---|
| **FDA 4m**, **Trial data 9m**, **M&A 1h** | Green | Strong or explosive news (a grade of 3 or more) | Real news that can bring in buyers. The best runners have this |
| **Deal 2h**, **Earnings 3h**, **Analyst 5h** | Blue | Decent news (a grade of 2 to 3) | Can move it, but it needs volume to follow through |
| **Fluff PR 16h**, **Hype 1h**, **News 40m** | Grey | Weak news (under 2) | Little real news. The move is mostly momentum or hype |
| **Offering 5m** | Red | An offering headline. It always leads, whatever else came out | The company is selling stock. Usually bad for longs: expect sellers into strength |

The colour follows the strength, not the kind: a **Hype** headline can be blue or grey, and a minor **FDA** designation can be blue. Only headlines from the last 24 hours make a chip.

## Borrow chips

Can shorts still add, and what does it cost them? All violet. Details in [guide 9.3](https://scalpeltrade.com/guides/borrow-and-short-squeezes).

| Chip | When | What it means for a long |
|---|---|---|
| **Can't short** | No shares left to borrow | Shorts are trapped. A push through VWAP or the high can force them to buy (squeeze) |
| **Short fee 85%** | A borrow fee of 20% a year or more | Shorting costs 85% a year. Squeeze fuel |
| **Hard to short** | Few shares left to borrow (locate needed) | Some squeeze fuel |

The hover card's verdict scales with the borrow pressure score: **Shorts trapped** from 60, **Squeeze fuel building** from 30, **Shorts not trapped** below.

## Where chips show

*Screenshot: The same reads in two places: ABCD's scan row, with up to three chips in the INTEL column, and desk D1's intel strip, where each chip has a one-line summary. Demo data.*

- **Scan panels**: the **INTEL** column holds up to three chips, always in the same order: dilution first (it is a warning), then the catalyst, then borrow. A narrow panel clips the last chip rather than breaking the row. To hide the column, untick **Intel column** in any scan panel's cog ([guide 8.5](https://scalpeltrade.com/guides/scanner-panels)); the desk strips and chart lines stay on.
- **Desk intel strip**: a trader desk with something to say shows a strip flush under its header, with the catalyst, dilution and borrow reads side by side. Each has a summary: the headline, the filing (for example "Selling stock off its shelf (424B5)") or the borrow verdict. With nothing to say, there is no strip.
- **The chart**: the prices behind dilution, as orange dashed lines ([guide 9.6](https://scalpeltrade.com/guides/warrant-and-offering-lines)).

Every chip opens the same kind of hover card, wherever it is: the verdict in the chip's colour, a line on what it means for a long trade, then the facts.

## Not intel chips

A few other marks share the scan rows:

- The red **HALT** tag: the stock is halted right now.
- The coloured letters **G**, **M**, **H**, **F**, **T** and **R**: live entry setups ([guide 8.2](https://scalpeltrade.com/guides/scan-types)).
- The **SQZ** cell: the squeeze score, which uses the borrow and dilution reads ([guide 8.4](https://scalpeltrade.com/guides/shares-out-short-interest-squeeze)).

**Note.**

Chips summarise public information; they do not tell you to buy or sell. A red chip on a stock that keeps running, and a green chip on one that fades, are both everyday events. Read the chips, then trade what the Level 2 and the tape show.

## Questions

**What does the red Selling chip mean?**

The company made a financing filing in the last 7 days, such as a 424B5 prospectus or a new registration. The number is the filing's age. Expect a seller on every spike.

**What is the difference between Dilution and Can dilute?**

Dilution (amber) is high risk: a recent financing, or a shelf with little cash or frequent sales. Can dilute (grey) is medium: the company is set up to sell, for example with a shelf on file, but nothing points to it needing to now.

**Why does a stock have no chips?**

Nothing notable was found, intel is off or still loading, the SEC contact email is missing for dilution, or the stock is past the 40 symbols intel follows.

**Why are the borrow chips violet?**

Violet is Scalpel's squeeze colour, shared with the SQZ score: borrow chips are about the fuel for a short squeeze.

**Can I hide the chips?**

On scan panels, yes: untick Intel column in any panel's cog. Desk strips and chart lines stay on; switch intel off in Settings > Intel to remove everything.