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 38 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 39% leaning bullish and 50% bearish. Among these notable options, 16 are puts, totaling $3,677,257, and 22 are calls, amounting to $1,067,529.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $115.0 to $170.0 for Advanced Micro Devices during the past quarter.
Volume & Open Interest Trends
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 $115.0 to $170.0 in the last 30 days.
Advanced Micro Devices Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMD | PUT | TRADE | BULLISH | 12/18/26 | $33.5 | $32.85 | $33.0 | $140.00 | $2.6M | 1.0K | 11 |
| AMD | PUT | SWEEP | BULLISH | 09/20/24 | $8.25 | $8.2 | $8.2 | $140.00 | $227.1K | 15.7K | 930 |
| AMD | PUT | SWEEP | BULLISH | 01/16/26 | $19.25 | $19.0 | $19.0 | $125.00 | $140.6K | 3.2K | 74 |
| AMD | PUT | SWEEP | BEARISH | 09/20/24 | $5.35 | $5.25 | $5.3 | $135.00 | $135.0K | 17.0K | 4.9K |
| AMD | CALL | SWEEP | BEARISH | 08/16/24 | $2.3 | $2.18 | $2.22 | $143.00 | $125.6K | 9.2K | 482 |
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.
Where Is Advanced Micro Devices Standing Right Now?
- Trading volume stands at 21,083,386, with AMD's price down by -0.67%, positioned at $140.19.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 76 days.
What Analysts Are Saying About Advanced Micro Devices
In the last month, 5 experts released ratings on this stock with an average target price of $186.6.
- An analyst from Susquehanna has decided to maintain their Positive rating on Advanced Micro Devices, which currently sits at a price target of $200.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Equal-Weight rating on Advanced Micro Devices with a target price of $178.
- An analyst from Baird persists with their Outperform rating on Advanced Micro Devices, maintaining a target price of $175.
- An analyst from Cantor Fitzgerald persists with their Overweight rating on Advanced Micro Devices, maintaining a target price of $200.
- An analyst from Barclays has decided to maintain their Overweight rating on Advanced Micro Devices, which currently sits at a price target of $180.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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