yourbankruptcy, it is to my advantage that earnings is after expiration because of the traditional runup leading into earnings. If I hold that far then I am behind the 8-ball, though, because I'd rather look for the stock to go up a couple of points (maybe challenge that 18+ recent high) in the first half of January.
Expect AMD to experience profit-taking after the earnings announcement, no matter what they say. It is one of the most predictable things about this stock.
Soon after the 1st, maybe Monday or Tuesday, there will be a window for AMD to correct guidance. This will happen only if results are well out of the bounds of guidance, high or low. If they pre-announce low then I just pissed away money this morning. If the pre-announce high then there can be a rapid runup and I am sitting pretty. Both of these scenerios are less likely than silence, and the runup on rumors as earnings approach. It is on that expectation that I bought this morning.
One other thing - January is traditionally a bullish month for the market. If this happens again next month then we are all riding on a rising tide. Not a time to be bearish on the market, if history is a guide.