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Moderately bullish activity in Advanced Micro Devices with shares up 1.71%

Moderately bullish activity in Advanced Micro Devices (AMD), with shares up $3.71, or 1.71%, near $220.12. Options volume roughly in line with average with 436k contracts traded and calls leading puts for a put/call ratio of 0.38, compared to a typical level near 0.5. Implied volatility (IV30) is higher by 2.1 points near 66.6, in the highest 10% of observations over the past year, suggesting an expected daily move of $9.23. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Buy at DZ Bank.

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