How To Trade Today’s AMD Earnings

October 29, 2024

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AMD is about to post earnings soon after this hits your inbox, after markets close today (along with GOOGL). Options traders are staking some big claims about what the outcome of that earnings release will be.

But before I get into where I think AMD will land, I’d like to go over a few points.

First off, AMD has had a wide range this year starting around $134, hitting a high of $226 and currently printing around $164 having only hit $150 6 days ago. What this translates into is AMD is sitting towards the lower end of the yearly range.

Clearly, the chip stock is not having the same banner year as rival and AI darling NVDA is.

From an options perspective, the implied move traders are estimating is, as I’m writing this, a $13 move up or down. This puts the options IM (implied move) to the upside around $177 while a downside IM is projected around $150.

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