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AMD attracts attention from option bulls

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Options traders are betting that the recent rally in shares of Advanced Micro Devices ( AMD ) will continue for the rest of this week. So far, 3,174 contracts of the June 9 expiring 14 call have changed hands today, Nearly all of the trades have been made on the high side of the bid-ask spread, indicating that they are initiated from the buy side. Open interest was 761 to start the day, which means these are mostly new contracts.

InvestorsKeyhole Trade Alert

IK-> The technicals for AMD ($12.39 up $0.36) are neutral with an upward trend. The stock has support about $10.90. Look at the July 9/11 bull-put spread for a 30-cent credit. That’s a 17.6% return and the stock has to fall by 11.2% to cause a problem. [InvestorsKeyhole, various news and data services]

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