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2024.04.02 15:31
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Advanced Micro Devices Unusual Options Activity For April 02

Investors have taken a bearish stance on Advanced Micro Devices (AMD) through unusual options activity. The sentiment is split between bullish and bearish, with significant trading volume for both puts and calls. The stock price of AMD is currently down, and analysts have provided various ratings and price targets. Options trading presents higher risks and potential rewards.

Investors with a lot of money to spend have taken a bearish stance on Advanced Micro Devices (NASDAQ: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 64 uncommon options trades for Advanced Micro Devices.

This isn't normal.

The overall sentiment of these big-money traders is split between 34% bullish and 65%, bearish.

Out of all of the special options we uncovered, 34 are puts, for a total amount of $2,021,185, and 30 are calls, for a total amount of $1,378,241.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $65.0 to $300.0 for Advanced Micro Devices over the last 3 months.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Advanced Micro Devices's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Advanced Micro Devices's substantial trades, within a strike price spectrum from $65.0 to $300.0 over the preceding 30 days.

Advanced Micro Devices Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

SymbolPUT/CALLTrade TypeSentimentExp. DateAskBidPriceStrike PriceTotal Trade PriceOpen InterestVolume
AMDPUTSWEEPBEARISH06/20/25$21.35$20.4$21.3$155.00$277.5K930207
AMDPUTSWEEPBEARISH04/05/24$2.66$2.65$2.65$175.00$173.6K7.6K7.3K
AMDPUTTRADEBEARISH04/05/24$1.16$1.15$1.16$170.00$151.3K5.3K19.8K
AMDPUTSWEEPBEARISH04/12/24$2.86$2.82$2.85$170.00$142.5K1.9K2.4K
AMDPUTSWEEPBEARISH04/05/24$1.33$1.32$1.32$170.00$83.6K5.3K11.7K

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.

Following our analysis of the options activities associated with Advanced Micro Devices, we pivot to a closer look at the company's own performance.

Advanced Micro Devices's Current Market Status

  • With a trading volume of 26,012,581, the price of AMD is down by -3.83%, reaching $176.32.
  • Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
  • Next earnings report is scheduled for 28 days from now.

Professional Analyst Ratings for Advanced Micro Devices

In the last month, 5 experts released ratings on this stock with an average target price of $225.0.

  • Reflecting concerns, an analyst from DZ Bank lowers its rating to Hold with a new price target of $200.
  • An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $190.
  • An analyst from Melius Research persists with their Buy rating on Advanced Micro Devices, maintaining a target price of $265.
  • Consistent in their evaluation, an analyst from Mizuho keeps a Buy rating on Advanced Micro Devices with a target price of $235.
  • Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Advanced Micro Devices, targeting a price of $235.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Advanced Micro Devices options trades with real-time alerts from Benzinga Pro.