Advanced Micro Devices's Options Frenzy: What You Need to Know

Deep-pocketed investors have adopted a bullish approach towards Advanced Micro Devices AMD, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in AMD usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 66 extraordinary options activities for Advanced Micro Devices. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 51% leaning bullish and 48% bearish. Among these notable options, 24 are puts, totaling $1,191,059, and 42 are calls, amounting to $3,663,637.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $140.0 to $290.0 for Advanced Micro Devices during the past quarter.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Advanced Micro Devices options trades today is 5376.33 with a total volume of 255,484.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Advanced Micro Devices's big money trades within a strike price range of $140.0 to $290.0 over the last 30 days.

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

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.

In light of the recent options history for Advanced Micro Devices, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Advanced Micro Devices

• Trading volume stands at 32,199,324, with AMD's price up by 0.37%, positioned at $191.76.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 43 days.

Professional Analyst Ratings for Advanced Micro Devices

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $214.0.

• An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $190.
• An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $190.
• An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $190.
• Maintaining their stance, an analyst from Melius Research continues to hold a Buy rating for Advanced Micro Devices, targeting a price of $265.
• An analyst from Mizuho has decided to maintain their Buy rating on Advanced Micro Devices, which currently sits at a price target 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.