Popular Semiconductor Stock for Options Bulls

The stock is continuing to pull back from a 17-month high

Deputy Editor
Jul 10, 2023 at 12:59 PM
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Advanced Micro Devices, Inc. (NASDAQ:AMD) is down 1% at $112.04 at last glance, as it moves further from a June 13, 17-month high of $132.83. On the charts, AMD's 50-day moving average is keeping this dip in check, and it still boasts a 73.2% and 41.4% year-to-date and year-over-year lead, respectively. 

AMD Chart July 102023

The semiconductor name was popular among options traders over the past couple weeks. According to Schaeffer's Senior Quantitative Analyst Rocky White's list of stocks that attracted the highest weekly options in the past 10 days, Advanced Micro Devices stock saw 3,513,362 calls and 1,867,270 puts exchanged in that time. The most popular contract over this period was the March 90 call. 

MAO AMD July 102023

The penchant for bullish bets is nothing new. This is according to Advance Micro Devices stock's 50-day call/put volume ratio of 1.74 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than 91% of readings in its annual range.

Now could be a good time to weigh in on the security's next move with options. The stock is seeing attractively priced premiums at the moment, per AMD's Schaeffer's Volatility Index (SVI) of 38%, which sits in the lowest percentile of its annual range. Furthermore, the security's Schaeffer's Volatility Scorecard (SVS) sits at a 96 out of 100, meaning it has exceeded option traders' volatility expectations during the past year.


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