Advanced Micro Devices Inc (AMD)

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Dan Nathan Sees Unusual Options Activity In Advanced Micro Devices
6:35 am ET November 23, 2016 (Benzinga) Print

Dan Nathan spoke on CNBC's Options Action about unusually high call options trading in Advanced Micro Devices, Inc. (NASDAQ: AMD). Call options volume was five times higher than the put options volume and the most active were the April expiration calls.

Nathan noticed that a trader sold to close 29,000 contracts of the April 7 calls and he or she bought to open 29,000 contracts of the April 10 calls for $1.09. The trade breaks even at $11.09 or 27.62 percent higher from the closing price on Tuesday. Nathan thinks a lot of things have to go right for Advanced Micro Devices in order for the stock to continue to trade higher.