Looking At Advanced Micro Devices's Recent Unusual Options Activity

Deep-pocketed investors have adopted a bearish approach towards Advanced Micro Devices AMD, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in AMD usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 69 extraordinary options activities for Advanced Micro Devices. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 36% leaning bullish and 63% bearish. Among these notable options, 27 are puts, totaling $1,539,712, and 42 are calls, amounting to $2,358,051.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $150.0 to $320.0 for Advanced Micro Devices over the last 3 months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Advanced Micro Devices's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Advanced Micro Devices's whale activity within a strike price range from $150.0 to $320.0 in the last 30 days.

Advanced Micro Devices Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

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.

Following our analysis of the options activities associated with Advanced Micro Devices, we pivot to a closer look at the company's own performance.

Present Market Standing of Advanced Micro Devices

• With a volume of 27,909,978, the price of AMD is up 1.14% at $200.65.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 49 days.

What The Experts Say On Advanced Micro Devices

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $216.0.

• Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Advanced Micro Devices with a target price of $235.
• An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $190.
• Consistent in their evaluation, an analyst from Melius Research keeps a Buy rating on Advanced Micro Devices with a target price of $265.
• An analyst from DZ Bank has revised its rating downward to Hold, adjusting the price target to $200.
• Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $190.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Advanced Micro Devices options trades with real-time alerts from Benzinga Pro.