A large bullish bet was placed today at 7:20am on AMD January 2018 15 calls. The trader purchased 2998 calls in one lot for $2.35 (2.32 – 2.36). The trade cost the long-term investor over $700K.
After exploding almost 300% in 2016, AMD’s stock rose another 20% from January 2, 2017 reaching its nine-year high of $14.32. Meanwhile, Intel and Nvidia’s stock remained mostly unchanged. A lot of fundamental investors believe that AMD is well placed to tap into the future growth opportunities of artificial intelligence, cloud computing, compute-centric GPUs (graphics processing units), and multiple bandwidth transitions.