On CNBC's "Options Action," Mike Khouw said calls outpaced puts by about three to one in Advanced Micro Devices, Inc. AMD on Tuesday and the most active options were the $82 strike calls that expire on Friday.
Over 18,000 contracts of the April $82 calls were traded for around a dollar, which sets the breakeven for the trade at $83 or 1.92% above the closing price on Tuesday.
AMD and Xilinx, Inc. XLNX are holding a special shareholder meeting on Wednesday as they are looking to finalize the $35 billion deal.
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