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

Deep-pocketed investors have adopted a bullish 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 127 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 45% leaning bullish and 41% bearish. Among these notable options, 29 are puts, totaling $1,629,603, and 98 are calls, amounting to $6,218,885.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $100.0 to $300.0 for Advanced Micro Devices over the recent three months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $100.0 to $300.0 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.

Having examined the options trading patterns of Advanced Micro Devices, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Advanced Micro Devices Standing Right Now?

• Currently trading with a volume of 38,226,942, the AMD's price is down by -1.11%, now at $179.6.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 15 days.

What The Experts Say On Advanced Micro Devices

A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $211.25.

• Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Advanced Micro Devices with a target price of $220.
• An analyst from TD Cowen has decided to maintain their Buy rating on Advanced Micro Devices, which currently sits at a price target of $210.
• An analyst from Wells Fargo has decided to maintain their Overweight rating on Advanced Micro Devices, which currently sits at a price target of $205.
• An analyst from Citigroup persists with their Buy rating on Advanced Micro Devices, maintaining a target price of $210.

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.