Advanced Micro Devices closed at USD 649.42, rising 2.80% from the prior session.
Advanced Micro Devices saw notable options activity as traders positioned for extended upside. The most prominent large trade was a bullish call spread with a net debit of $390 thousand, spanning strikes from $1,010 to $1,230 with expirations out to 2029. This directional structure stood out against a backdrop of relatively inexpensive implied volatility, signaling that some market participants are willing to pay premium for exposure to a substantial long-dated advance in the stock rather than simply hedging existing positions.
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Options Indicators
Advanced Micro Devices currently has an implied volatility of 54.80%, while its IV percentile stands at 15.94%, which indicates volatility is on the low side and options are relatively cheaply priced compared with their own recent history. With the IV/HV ratio at 1.08, implied volatility is only modestly above realized volatility, suggesting option premiums are not carrying an especially aggressive volatility premium at the moment. The Call/Put volume ratio is 1.36, reflecting stronger relative interest in calls.
Large Trades
A bullish call spread with a net debit of $390 thousand was the standout large trade, pairing the purchase of 1,500 June 16, 2028 $1,010 calls with the sale of 1,500 January 19, 2029 $1,230 calls. Both strikes sit out of the money versus the $649.42 reference stock price, so this is a clearly directional upside structure rather than a hedge. Because it combines a long call and a short call, it should be read as a spread strategy, and the relevant trade size is the stated net debit of $390 thousand, not the gross premium on each leg. Strategically, this structure expresses a bullish view on substantial upside in Advanced Micro Devices while limiting upfront premium outlay by financing part of the long-call purchase through the higher-strike call sale, which caps some upside in exchange for cheaper exposure.
Overall, the large-trade flow was decisively bullish. The only highlighted block was an upside call spread established for a net debit, which signals a willingness to pay premium for higher future prices rather than collect income defensively. With no meaningful bearish large-trade activity appearing alongside it, the bulk-order positioning points to constructive sentiment on Advanced Micro Devices and suggests traders are targeting a sizable longer-dated advance rather than preparing for downside risk.
Strategy Reference
For traders who prefer to sell premium while maintaining a low probability of assignment, a short put with a strike around USD 550.00 or below may offer a defensive buffer given the current low IV percentile and modest IV/HV ratio.