Looking At Advanced Micro Devices's Recent Unusual Options Activity

Investors with a lot of money to spend have taken a bearish stance on Advanced Micro Devices 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 10 uncommon options trades for Advanced Micro Devices.

This isn't normal.

The overall sentiment of these big-money traders is split between 20% bullish and 80%, bearish.

Out of all of the special options we uncovered, 8 are puts, for a total amount of $313,646, and 2 are calls, for a total amount of $199,304.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $172.5 to $180.0 for Advanced Micro Devices over the recent three months.

Volume & Open Interest Trends

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 $172.5 to $180.0 over the preceding 30 days.

Advanced Micro Devices Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

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.

Where Is Advanced Micro Devices Standing Right Now?

• Trading volume stands at 694,985, with AMD's price down by -0.96%, positioned at $176.29.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 62 days.

Professional Analyst Ratings for Advanced Micro Devices

5 market experts have recently issued ratings for this stock, with a consensus target price of $207.0.

• An analyst from Rosenblatt persists with their Buy rating on Advanced Micro Devices, maintaining a target price of $250.
• An analyst from Mizuho has decided to maintain their Buy rating on Advanced Micro Devices, which currently sits at a price target of $200.
• An analyst from Rosenblatt downgraded its action to Buy with a price target of $200.
• Maintaining their stance, an analyst from Roth MKM continues to hold a Buy rating for Advanced Micro Devices, targeting a price of $190.
• In a positive move, an analyst from Northland Capital Markets has upgraded their rating to Outperform and adjusted the price target to $195.

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.