AMD Sees Over $1 Million Sell $480 Put Trade Indicating Cautious Bullish Sentiment
Advanced Micro Devices (AMD) shares rose 4.73% to $511.57 amid a sharp rally. The options market showed significant block trades, including a $1 million+ sell of $480 put options. Institutional investors are using a premium harvesting strategy with calendar call positions, reflecting cautious optimism about further gains. The dominant large trades involve call combinations and out-of-the-money put sales, indicating confidence in AMD's continued strength while managing upside momentum and volatility.