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Christian Fromhertz Sees Unusual Options Activity In Advanced Micro Devices

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On CNBC's "Options Action," Christian Fromhertz of The Tribeca Trade Group spoke about unusually high options activity in Advanced Micro Devices, Inc. (NASDAQ: AMD). He said the stock is a great way to play a potential move higher in the semiconductor sector. It has a little bit over 9% of short interest and it looks like it is breaking higher after a period of consolidation.

Fromhertz said the stock had two times the average daily call options volume on Thursday. He also noticed a purchase of 7,000 contracts of the February $40 calls for $3.45. The trade breaks even at $43.45 or around 5% above the current stock price.

Posted-In: Christian Fromhertz CNBC Options ActionMedia

 

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