Option traders moderately bearish in Advanced Micro Devices (AMD), with shares down 26c near $172.50. Options volume roughly in line with average with 1.04m contracts traded and calls leading puts for a put/call ratio of 0.5, compared to a typical level near 0.54. Implied volatility (IV30) is higher by 1.7 points near 43.82,and below the 52wk median, suggesting an expected daily move of $4.76. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Hold at DZ Bank.
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