Struggling Semiconductor Stock Seeing Options Surge

Options traders are leaning bearish on AMD

Deputy Editor
Dec 12, 2022 at 2:02 PM
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Advanced Micro Devices Inc (NASDAQ:AMD) is up 2.2% at $70.07 at last glance, looking to secure only its second win in the last eight days. Pressure at the $80 level has been keeping a firm lid on gains as of late, an area that coincides with AMD's 120-day moving average. Year-to-date, the chipmaker is down 51.3%. 

AMD Dec12

Options bears have been eyeing AMD amid the recent downtrend. The stock landed on Schaeffer's Senior Quantitative Analyst Rocky White's list of names with the most options volume in the past 10 days. In that time period, 1,839,648 calls and 2,209,083 puts exchanged hands. The most popular contract during this time was the January 2023 65-strike put, followed by the 70-strike put in the same standard series. It's also worth noting that the top five most active positions were puts.   

MAO Dec12

Plus, at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), AMD's put/call ratio of 1.08 over these past two weeks ranks higher than all other readings in its annual range.  

Options are certainly an intriguing route, per the security's Schaeffer's Volatility Scorecard (SVS) sits at a relatively high 82 out of 100, this means AMD has exceeded option traders' volatility expectations during the past year.


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