Advanced Micro Devices's Options Frenzy: What You Need to Know
Portfolio Pulse from Benzinga Insights
Advanced Micro Devices (NASDAQ:AMD) has seen a notable bearish sentiment in its options trading, with 58% of traders showing bearish tendencies versus 41% bullish. The analysis revealed 589 unusual trades, including 214 puts and 375 calls, targeting a price range of $50.0 to $320.0. Noteworthy options activity highlighted several bullish call sweeps with expiration dates ranging from 2024 to 2026. AMD's stock is currently trading at $171.06, down by -1.62%, with an RSI indicating a neutral position. Analysts have set an average price target of $198.4, with varying ratings from 'Overweight' to 'Buy'. Advanced Micro Devices specializes in digital semiconductors for various markets and acquired FPGA leader Xilinx in 2022.
February 20, 2024 | 4:30 pm
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NEUTRAL IMPACT
Advanced Micro Devices has seen a bearish sentiment in options trading, with a significant volume of puts and calls indicating a wide price target range. The stock is currently down, with analysts setting an average price target of $198.4.
The bearish sentiment in options trading, combined with the current stock price decrease, suggests a cautious short-term outlook. However, the analysts' average price target indicates potential upside, making the short-term impact neutral as the market digests both bearish and bullish signals.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100