Shares of Advanced Micro Devices (NYSE:

) are trading sharply higher this morning on takeover speculation. AMD is currently up 4% or .27 to 7.17 on above average volume. The 7.18 level is proving to be intra day resistance with the 7.20 level i sights. Options traders focused on the November 8 calls, trading nearly 13,000 contracts vs a few hundred in the 8 put line. (NYSE:

) Day's Range: 6.94 - 7.19 52wk Range: 4.33 - 10.24