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 51% of trades showing bearish tendencies compared to 36% bullish. The trading activity suggests investors are targeting a price range of $138.0 to $250.0 for AMD over the next three months. Noteworthy options trades include both bullish and bearish sentiments, with significant trades made in calls and puts. AMD's stock is currently down by -1.48%, with a trading volume of 12,693,933 and an RSI indicating it may be approaching oversold territory. Analysts have set an average price target of $195.6, with varying ratings from Outperform to Buy.
May 02, 2024 | 2:19 pm
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Advanced Micro Devices has experienced a bearish trend in options trading, with a significant portion of trades predicting a downward price movement. However, analysts' average price target suggests a potential upside.
The bearish sentiment in options trading could indicate short-term downward pressure on AMD's stock price. However, the analysts' optimistic price targets and the current oversold RSI levels suggest a potential rebound. The mixed signals from options trading and analyst ratings, combined with the current stock performance, make the short-term impact neutral but warrant close monitoring for potential shifts.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100