AMD Hits Record High on Double Dose of Bull Notes

Call traders have flocked to the chip name in recent weeks

Managing Editor
Jan 21, 2020 at 10:58 AM
facebook X logo linkedin

Chip name Advanced Micro Devices, Inc. (NASDAQ:AMD) is up 1.2% and fresh off a record high of $51.81 this morning, surging after receiving two analyst bull notes. Deutsche Bank hiked its price target to $40 from $29, while Northland Capital Markets raised to $42. The catalysts are unclear, but the double dose of optimism has AMD pacing toward a fourth straight win and highest close on record. Year-over-year, the equity has soared 148%, with a healthy leg of support seen at the 20-day moving average.

In the options pits, Advanced Micro Devices stock looks to be a favorite of call traders.This is per the chip name's 10-day call/put volume ratio at the 3.81 International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks four percentage points from an annual high. This morning, the weekly 1/24 50-strike call is seeing the most attention.

Coming into today, analysts were leaning slightly more pessimistic. Specifically, 13 of 22 sport a tepid "hold" recommendation. Meanwhile, shorts have been hitting the exits, with short interest down 10.2% during the past two reporting periods. However, this still accounts for nearly 9% of AMD's available float, and almost two days' worth of pent-up buying power.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI