Spotlight on Advanced Micro Devices: Analyzing the Surge in Options Activity

Investors with a lot of money to spend have taken a bullish stance on Advanced Micro Devices AMD.

And retail traders should know.

We noticed this today when the trades 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.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 61 uncommon options trades for Advanced Micro Devices.

This isn't normal.

The overall sentiment of these big-money traders is split between 54% bullish and 32%, bearish.

Out of all of the special options we uncovered, 31 are puts, for a total amount of $1,422,753, and 30 are calls, for a total amount of $1,652,275.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $110.0 to $200.0 for Advanced Micro Devices over the last 3 months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Advanced Micro Devices's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Advanced Micro Devices's substantial trades, within a strike price spectrum from $110.0 to $200.0 over the preceding 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.

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.

Current Position of Advanced Micro Devices

• Trading volume stands at 28,847,063, with AMD's price down by -0.23%, positioned at $160.86.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 36 days.

What The Experts Say On Advanced Micro Devices

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $188.0.

• Consistent in their evaluation, an analyst from Susquehanna keeps a Positive rating on Advanced Micro Devices with a target price of $200.
• An analyst from Morgan Stanley downgraded its action to Equal-Weight with a price target of $176.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Advanced Micro Devices with Benzinga Pro for real-time alerts.