Investors with a lot of money to spend have taken a bullish stance on Advanced Micro Devices (NASDAQ:AMD).
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don’t know. But when something this big happens with AMD, it often means somebody knows something is about to happen.
Today, Benzinga’s options scanner spotted 8 options trades for Advanced Micro Devices.
This isn’t normal.
The overall sentiment of these big-money traders is split between 62% bullish and 37%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $31,080, and 7, calls, for a total amount of $253,577.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $50.0 to $170.0 for Advanced Micro Devices during the past quarter.
Volume & Open Interest Development
In today’s trading context, the average open interest for options of Advanced Micro Devices stands at 4905.12, with a total volume reaching 3,057.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Advanced Micro Devices, situated within the strike price corridor from $50.0 to $170.0, throughout the last 30 days.
Advanced Micro Devices Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AMD | CALL | TRADE | BEARISH | 04/19/24 | $170.00 | $52.1K | 1.2K | 0 |
| AMD | CALL | TRADE | BULLISH | 06/21/24 | $125.00 | $45.8K | 7.0K | 0 |
| AMD | CALL | SWEEP | BULLISH | 12/29/23 | $142.00 | $37.3K | 4.4K | 653 |
| AMD | CALL | SWEEP | BEARISH | 01/26/24 | $142.00 | $34.5K | 231 | 5 |
| AMD | PUT | SWEEP | NEUTRAL | 04/19/24 | $145.00 | $31.0K | 160 | 5 |
About Advanced Micro Devices
Advanced Micro Devices designs a variety of digital semiconductors for markets such as PCs, gaming consoles, data centers, industrial, and automotive applications, among others. AMD’s traditional strength was in central processing units, CPUs, and graphics processing units, or GPUs, used in PCs and data centers. Additionally, the firm supplies the chips found in prominent game consoles such as the Sony PlayStation and Microsoft Xbox. In 2022, the firm acquired field-programmable gate array, or FPGA, leader Xilinx to diversify its business and augment its opportunities in key end markets such as the data center and automotive.
After a thorough review of the options trading surrounding Advanced Micro Devices, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Advanced Micro Devices
- Currently trading with a volume of 4,191,530, the AMD’s price is up by 0.46%, now at $140.55.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 39 days.
Professional Analyst Ratings for Advanced Micro Devices
In the last month, 5 experts released ratings on this stock with an average target price of $161.4.
- In a positive move, an analyst from B of A Securities has upgraded their rating to Buy and adjusted the price target to $165.
- An analyst from Stifel downgraded its action to Buy with a price target of $145.
- An analyst from Raymond James has decided to maintain their Strong Buy rating on Advanced Micro Devices, which currently sits at a price target of $140.
- In a cautious move, an analyst from Rosenblatt downgraded its rating to Outperform, setting a price target of $200.
- Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Advanced Micro Devices, targeting a price of $157.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Advanced Micro Devices, Benzinga Pro gives you real-time options trades alerts.
