Advanced Micro Devices Unusual Options Activity For April 02
Portfolio Pulse from Benzinga Insights
Advanced Micro Devices (NASDAQ:AMD) has seen unusual options activity, with a bearish sentiment prevailing among big-money traders. Benzinga's options scanner revealed 64 uncommon trades, with a split sentiment of 34% bullish and 65% bearish. The trades target a price range of $65.0 to $300.0 for AMD over the next 3 months. The company, known for its CPUs and GPUs, recently acquired FPGA leader Xilinx. AMD's stock is currently down by -3.83%, with a trading volume of 26,012,581 and a neutral RSI. Analyst ratings in the last month have varied, with an average target price of $225.0.
April 02, 2024 | 3:31 pm
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Advanced Micro Devices has experienced significant bearish options activity, indicating potential short-term downward pressure on its stock price. Despite this, analyst ratings provide a mixed but generally positive outlook with an average target price of $225.
The bearish sentiment among big-money traders, as indicated by the unusual options activity, suggests that there may be concerns or negative developments that could impact AMD's stock price in the short term. However, the positive analyst ratings and target prices indicate a belief in the company's longer-term potential. The discrepancy between the options activity and analyst outlook creates uncertainty, but the significant bearish sentiment in the options market cannot be ignored.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100