Advanced Micro Devices Inc (AMD)

[HailMary]

Huh? I thought max pain would be within a point or two of where we are now.

Remember this is January. January is one of the most popular leap option months. Tons of these contracts were opened over a year ago when AMD was well below 10.

So yes, there is a lot of value in in-the-money call options.

This represents a potential downward pull. Again though - we don't know the underlying position of the holders at this point, so there is no telling exactly what this represents. The holders may have already taken offsetting positions (risking the tax man finding out).

I would guess one or two million shares extra of the sell side.