Replies to post #37776 on Advanced Micro Devices Inc (AMD)

[Petz]

Just noticed that there's open interest of 145,334 contracts on the AMD Jan 06 $5.00 put. Perhaps a big chunk of the convertible holders decided to just insure their holdings against bankruptcy while keeping most of their appreciation potential.

Also, rather than shorting the stock, some convert holders might sell LEAP calls, and get some cash flow.

I tried to find historical short interest figures for AMD, but the NYSE only has monthly on their website. SI did rise from 47.3 to 53.7M shares from 4/10 to 5/10.

Petz