Looking At Advanced Micro Devices's Recent Unusual 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 33 uncommon options trades for Advanced Micro Devices.

This isn't normal.

The overall sentiment of these big-money traders is split between 45% bullish and 45%, bearish.

Out of all of the special options we uncovered, 14 are puts, for a total amount of $808,753, and 19 are calls, for a total amount of $4,367,676.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $80.0 and $165.0 for Advanced Micro Devices, spanning the last three 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 $80.0 to $165.0 in the last 30 days.

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

Biggest Options Spotted:

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. AMD's traditional strength was in central processing units and graphics processing units 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 leader Xilinx to diversify its business and augment its opportunities in key end markets such as 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.

Current Position of Advanced Micro Devices

• Trading volume stands at 10,672,822, with AMD's price up by 0.81%, positioned at $104.35.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 41 days.

What Analysts Are Saying About Advanced Micro Devices

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $145.0.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Maintaining their stance, an analyst from Mizuho continues to hold a Outperform rating for Advanced Micro Devices, targeting a price of $120. * In a cautious move, an analyst from Benchmark downgraded its rating to Buy, setting a price target of $170.

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.