Popular Chip Stock Stock Lifted on Nvidia Results

NVDA might be the star of the show today, but AMD has been receiving attention as well

Deputy Editor
Feb 22, 2024 at 2:18 PM
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The shares of Advanced Micro Devices Inc (NASDAQ:AMD) are surging today, as the chip sector gets a halo lift from Nvidia's (NVDA) post-earnings climb to record highs. Up 10.7% at $181.83 at last glance, and earlier hitting $183.77, AMD is nearing its own Jan. 25 all-time peak at $184.92. 

Before today's pop, Advanced Micro Devices stock found support for its recent pullback at its 40-day moving average, while the $162 region appears to be emerging as a floor as well. Since last February, the equity is up 137.5%. 

AMD Feb22

Also like NVDA, Advanced Micro Devices stock is a regular on Schaeffer's Senior Quantitative Analyst Rocky White's list of stocks that have attracted the highest options volume during the last 10 days, and the past two weeks are no different. During this time, AMD has seen 4,288,673 calls and 2,273,887 puts exchanged, with the most activity at the February 180 call.

MAO Feb22

This penchant for bullish bets is nothing new. According to data at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the security's 50-day call/put volume ratio of 1.88 stands higher than 80% of readings from the past year.

 

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