This Is What Whales Are Betting On Advanced Micro Devices

This Is What Whales Are Betting On Advanced Micro Devices

 

Someone with a lot of money to spend has taken a bullish stance on Advanced Micro Devices 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.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 60 uncommon 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 special options we uncovered, 16 are puts, for a total amount of $1,343,983, and 44 are calls, for a total amount of $2,311,786.

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 $70.0 to $150.0 for Advanced Micro Devices over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Advanced Micro Devices options trades today is 9548.11 with a total volume of 245,859.00.

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 $70.0 to $150.0 over 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 PUT TRADE BULLISH 08/12/22 $101.00 $289.5K 2.1K 4.5K
AMD PUT SWEEP BEARISH 09/16/22 $97.50 $210.0K 7.0K 605
AMD CALL SWEEP BULLISH 10/21/22 $110.00 $176.5K 6.5K 724
AMD PUT SWEEP BULLISH 01/20/23 $110.00 $173.5K 14.0K 2.1K
AMD CALL SWEEP BEARISH 08/19/22 $103.00 $120.1K 3.4K 1.2K

Where Is Advanced Micro Devices Standing Right Now?

  • With a volume of 54,335,811, the price of AMD is up 2.59% at $100.67.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 74 days.

What The Experts Say On Advanced Micro Devices:

  • Deutsche Bank has decided to maintain their Hold rating on Advanced Micro Devices, which currently sits at a price target of $85.
  • KGI Securities upgraded its action to Outperform with a price target of $125
  • BMO Capital upgraded its action to Outperform with a price target of $115
  • Northland Capital Markets has decided to maintain their Outperform rating on Advanced Micro Devices, which currently sits at a price target of $105.
  • Citigroup has decided to maintain their Neutral rating on Advanced Micro Devices, which currently sits at a price target of $96.

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 Advanced Micro Devices, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets