Benzinga | Oct 12, 2021 12:15PM EDT

This Is What Whales Are Betting On Advanced Micro Devices

Someone with a lot of money to spend (and possibly insider knowledge) has taken a bullish stance on Advanced Micro Devices(NASDAQ:AMD).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with AMD, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 16 uncommon options trades for Advanced Micro Devices.

This isn't normal.

The overall sentiment of these big-money traders is split between 68.75% bullish and 31.25%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $58,400, and 14 are calls, for a total amount of $5,758,572.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $95.0 to $115.0 for Advanced Micro Devices over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Advanced Micro Devices's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Advanced Micro Devices's whale activity within a strike price range from $95.0 to $115.0 in the last 30 days.

Advanced Micro Devices Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestAMD CALL SWEEP BULLISH 03/18/ $95.00 $3.5M 2.2K 2.9K 22AMD CALL SWEEP BULLISH 03/18/ $95.00 $583.5K 2.2K 358 22AMD CALL SWEEP BULLISH 03/18/ $95.00 $552.4K 2.2K 3.4K 22AMD CALL SWEEP BULLISH 03/18/ $95.00 $493.7K 2.2K 660 22AMD CALL SWEEP BULLISH 11/19/ $110.00 $116.0K 24.4K 380 21

Where Is Advanced Micro Devices Standing Right Now?

* With a volume of 15,743,423, the price of AMD is up 0.36% at $105.06.

* RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.

* Next earnings are expected to be released in 14 days.

What The Experts Say On Advanced Micro Devices:

* Piper Sandler has decided to maintain their Overweight rating on Advanced Micro Devices, which currently sits at a price target of $120.0.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.