My AMD options play for earnings week!

Asphen
2023-07-30


Situation as of 30 July 2023

- Price action is around 3 MA lines - MA5/MA20/MA50 ==> very easy for bulls or bears to push through taking 3 MA lines at one go!

- 108/109 has been a constant support past weeks! ==> Break below would mean quite some liquidity to push the sell down

- Options statistics show a variation of 7% to 8% range play this week ==> Interestingly, it coincides with levels of 105 and 100!! 

- Bull flag fib retracement shows we are hovering around Fib 38.2 ==> can still be bullish if there is a push


My approach/plays

- Positive reaction from earnings ==> Sold puts will be safe so not much concern there. Existing sold puts will be good. 

- Negative reaction from earnings ==> Options statistics play means gap down to 105 and 100 and given the liquidity overhead, likely to continue sell down to 95. ==> My aim is to own some AMD, so I will be going heavy into sold puts strike 95 and 100

- Post earnings will have IV crush (helps sold options)

Good luck!

AMD Daily Chart - 30 July 2023

@Deposit  @TigerStars  @CaptainTiger  @macroB  @melson  @LMSunshine  

$AMD(AMD)$ 

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Comments

  • ColinThorndike
    2023-07-30
    ColinThorndike

    AMD will continue to gain in DC and soon the shoe will be on the other foot. AMD guidance will be good and if its AI solutions take off revenue gains will be parabolic.

  • kookiz
    2023-07-30
    kookiz

    Look at the AMD one year chart and fear not! AMD is obviously a winner 🏆 GLTA👍👊

  • melson
    2023-07-30
    melson
    playing dead again?
    • Asphen
      leaning towards a bullish reaction this time  😀
  • LMSunshine
    2023-07-31
    LMSunshine
    Thanks buddy❣️ You’re AWESOME❣️
    • Asphen
      amd looks to run tonight already  😀
    • Asphen
      thank you
  • ZEROHERO
    2023-07-31
    ZEROHERO
    Safe & steady approach 💪
  • vippy
    2023-08-10
    vippy

    Almost $2 STRAIGHT Down This is the AMD I know

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