Someone with a lot of money to spend has taken a bullish stance on Advanced Micro Devices (NASDAQ:AMD).
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with AMD, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 16 options trades for Advanced Micro Devices.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $79,000, and 15, calls, for a total amount of $1,011,937..
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $89.0 to $105.0 for Advanced Micro Devices over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $89.0 to $105.0 in the last 30 days.
Advanced Micro Devices Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AMD | CALL | SWEEP | BULLISH | 05/27/22 | $100.00 | $215.7K | 20.0K | 2.3K |
| AMD | CALL | TRADE | BULLISH | 01/19/24 | $100.00 | $173.4K | 10.2K | 61 |
| AMD | PUT | TRADE | NEUTRAL | 07/15/22 | $90.00 | $79.0K | 6.7K | 288 |
| AMD | CALL | SWEEP | BEARISH | 06/03/22 | $102.00 | $76.2K | 6.8K | 357 |
| AMD | CALL | SWEEP | BEARISH | 06/03/22 | $102.00 | $72.9K | 6.8K | 5.5K |
Where Is Advanced Micro Devices Standing Right Now?
- With a volume of 12,698,755, the price of AMD is up 1.31% at $100.04.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 60 days.
What The Experts Say On Advanced Micro Devices:
- Mizuho has decided to maintain their Buy rating on Advanced Micro Devices, which currently sits at a price target of $145.
- Piper Sandler upgraded its action to Overweight with a price target of $140
- Piper Sandler has decided to maintain their Neutral rating on Advanced Micro Devices, which currently sits at a price target of $98.
- Jefferies has decided to maintain their Buy rating on Advanced Micro Devices, which currently sits at a price target of $147.
- Benchmark has decided to maintain their Buy rating on Advanced Micro Devices, which currently sits at a price target of $125.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for {d[company_name]}, Benzinga Progives you real-time options trades alerts.
