Option traders moderately bearish in Advanced Micro Devices with shares down 0.99%

Option traders moderately bearish in Advanced Micro Devices (AMD), with shares down $2.77 near $275.62. Options volume roughly in line with average with 457k contracts traded and calls leading puts for a put/call ratio of 0.66, compared to a typical level near 0.87. Implied volatility (IV30) is higher by 2.0 points near 59.71,in the top quartile of the past year, suggesting an expected daily move of $10.37. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Advanced Micro Devices (AMD) will report earnings after the close on None.Option markets are pricing in a 50% probability of a move greater than 0.0% or $0.00.