Spotlight on Advanced Micro Devices: Analyzing the Surge in Options Activity
Portfolio Pulse from Benzinga Insights
Advanced Micro Devices (NASDAQ:AMD) has seen a surge in options activity, with a bullish sentiment from investors. Analysis of 11 trades shows 72% bullish and 27% bearish positions. The focus is on a price range of $115 to $130. The stock is currently up by 3.83% at $123.72, but RSI indicates it may be overbought. Earnings are expected in 69 days. Analysts have set target prices ranging from $120 to $135, with ratings from Buy to Overweight. Options trading carries higher risks and potential rewards than stock trading.
November 22, 2023 | 3:02 pm
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Advanced Micro Devices has experienced increased options activity with a bullish bias. The stock price has risen recently, but technical indicators suggest it may be overbought. Analysts have set target prices between $120 and $135, with positive ratings overall.
The bullish options activity indicates investor confidence and could lead to a short-term increase in stock price, especially with analyst support. However, the RSI overbought signal and the upcoming earnings report could add volatility.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100