Advanced Micro Devices’s Options Frenzy: What You Need to Know – Advanced Micro Devices (NASDAQ:AMD)

Whales with a lot of money to spend have taken a noticeably bearish stance on Advanced Micro Devices.

Looking at options history for Advanced Micro Devices AMD we detected 22 trades.

If we consider the specifics of each trade, it is accurate to state that 27% of the investors opened trades with bullish expectations and 72% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $438,380 and 17, calls, for a total amount of $983,884.

What’s The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $125.0 to $170.0 for Advanced Micro Devices during the past quarter.

Insights into 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 $125.0 to $170.0 in the last 30 days.

Advanced Micro Devices Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
AMD CALL SWEEP NEUTRAL 01/12/24 $147.00 $177.1K 7.0K 2.0K
AMD PUT SWEEP BEARISH 01/19/24 $149.00 $130.0K 624 1.2K
AMD CALL TRADE NEUTRAL 01/19/24 $150.00 $103.0K 33.9K 6.3K
AMD PUT SWEEP NEUTRAL 01/12/24 $150.00 $97.9K 4.8K 528
AMD PUT TRADE BEARISH 05/17/24 $170.00 $96.9K 50 34

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.

Advanced Micro Devices’s Current Market Status

  • Currently trading with a volume of 10,530,531, the AMD’s price is down by -0.39%, now at $147.96.
  • RSI readings suggest the stock is currently may be approaching overbought.
  • Anticipated earnings release is in 19 days.

Professional Analyst Ratings for Advanced Micro Devices

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $168.4.

  • Showing optimism, an analyst from B of A Securities upgrades its rating to Buy with a revised price target of $165.
  • An analyst from Melius Research upgraded its action to Buy with a price target of $188.
  • Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Advanced Micro Devices, targeting a price of $157.
  • Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Advanced Micro Devices with a target price of $170.
  • Consistent in their evaluation, an analyst from Mizuho keeps a Buy rating on Advanced Micro Devices with a target price of $162.

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.

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