AMD: $257K Bullish Short-Term Bet

A large bullish bet was placed today on AMD – a trader purchased 6’124 March 13.5 calls at 11:07am betting $257K that AMD prices will go up during the next several weeks. The volume was substantially higher than the open interest at this strike, which indicates that this position was initiated today.

Screen Shot 2017-03-07 at 9.50.27 AM

The AMD hourly chart shows that the price started to go up after it reached a 12.5 level, which now acts as a support. Technically speaking, this can be a perfect moment for the stock to resume its bull run.

Screen Shot 2017-03-07 at 9.49.22 AM

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