Moderately bullish activity in Advanced Micro Devices (AMD), with shares up $2.71, or 1.88%, near $146.88. Options volume running well above average with 787k contracts traded and calls leading puts for a put/call ratio of 0.54, compared to a typical level near 0.55. Implied volatility (IV30) is higher by 0.3 points near 49.55,and above the 52wk median, suggesting an expected daily move of $4.58. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Buy at HSBC.
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