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Friday, December 31, 2021 9:51:09 AM
Advanced Micro Devices (AMD) Stock Climbs Into New Year After Deal Delay
By: Schaeffer's Investment Research | December 31, 2021
• Advanced Micro Devices and Xilinx have delayed the $35 billion takeover deal until the first quarter of next year
• The security is wrapping up 2021 with a notable return
The shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) are up 0.9% at $1.30 this morning, following news that the company has pushed its $35 billion all-stock takeover deal of Xilinx (XLNX) to the first quarter of 2022 from its initial target of the end of 2021. The companies have not yet received all required approvals. Conversely, XLNX is down 1.8% at $210 at last check.
AMD has had a bang-up year as it looks to end 2021 on a high note. While the equity has distanced itself from its Nov. 30 record high of $164.45, it is headed into 2022 with a yearly win of roughly 58%. The stock also has solid support from several major moving averages, including its 50-day, which captured a pulllback earlier this month.
When we last covered Advanced Micro Devices stock a few days ago, we noted the possibility for analyst upgrades in the new year, which could lead to tailwinds for the security. This isn't the only place pessimism that could be unwound, potentially sending the stock higher. AMD's Schaeffer's put/call open interest ratio (SOIR) of 1.04 stands higher than 89% of readings from the past year. In other words, short-term options traders have rarely been more put-biased.
To echo this, the stock sports a 10-day put/call volume ratio that stands higher than 85% of annual readings at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This implies puts are being picked up at a quicker-than-usual clip.
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DiscoverGold
By: Schaeffer's Investment Research | December 31, 2021
• Advanced Micro Devices and Xilinx have delayed the $35 billion takeover deal until the first quarter of next year
• The security is wrapping up 2021 with a notable return
The shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) are up 0.9% at $1.30 this morning, following news that the company has pushed its $35 billion all-stock takeover deal of Xilinx (XLNX) to the first quarter of 2022 from its initial target of the end of 2021. The companies have not yet received all required approvals. Conversely, XLNX is down 1.8% at $210 at last check.
AMD has had a bang-up year as it looks to end 2021 on a high note. While the equity has distanced itself from its Nov. 30 record high of $164.45, it is headed into 2022 with a yearly win of roughly 58%. The stock also has solid support from several major moving averages, including its 50-day, which captured a pulllback earlier this month.
When we last covered Advanced Micro Devices stock a few days ago, we noted the possibility for analyst upgrades in the new year, which could lead to tailwinds for the security. This isn't the only place pessimism that could be unwound, potentially sending the stock higher. AMD's Schaeffer's put/call open interest ratio (SOIR) of 1.04 stands higher than 89% of readings from the past year. In other words, short-term options traders have rarely been more put-biased.
To echo this, the stock sports a 10-day put/call volume ratio that stands higher than 85% of annual readings at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This implies puts are being picked up at a quicker-than-usual clip.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
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