High-rolling investors have positioned themselves bullish on Advanced Micro Devices AMD, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in AMD often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Advanced Micro Devices. This is not a typical pattern.
The sentiment among these major traders is split, with 77% bullish and 22% bearish. Among all the options we identified, there was one put, amounting to $59,630, and 8 calls, totaling $285,048.
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 $75.0 and $165.0 for Advanced Micro Devices, spanning the last three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Advanced Micro Devices stands at 6628.2, with a total volume reaching 35,678.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Advanced Micro Devices, situated within the strike price corridor from $75.0 to $165.0, throughout the last 30 days.
Advanced Micro Devices 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMD | PUT | TRADE | BULLISH | 06/18/26 | $3.4 | $3.35 | $3.35 | $75.00 | $59.6K | 390 | 0 |
| AMD | CALL | SWEEP | BULLISH | 07/05/24 | $2.5 | $2.48 | $2.5 | $165.00 | $50.0K | 8.4K | 3.2K |
| AMD | CALL | SWEEP | BULLISH | 07/05/24 | $2.19 | $2.16 | $2.19 | $165.00 | $48.3K | 8.4K | 1.4K |
| AMD | CALL | TRADE | BULLISH | 07/05/24 | $4.15 | $4.05 | $4.12 | $160.00 | $41.2K | 6.0K | 939 |
| AMD | CALL | TRADE | BEARISH | 07/12/24 | $3.2 | $3.15 | $3.15 | $167.50 | $32.4K | 500 | 183 |
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.
Advanced Micro Devices's Current Market Status
- Trading volume stands at 701,893, with AMD's price up by 0.46%, positioned at $160.21.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 32 days.
What Analysts Are Saying About Advanced Micro Devices
In the last month, 2 experts released ratings on this stock with 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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