AMD: A Big Bearish Bet Into May

A new bearish options bet was placed today at 08:04am PST on AMD by a trader who bought 4700 17 May’19 $22 puts. The total bet is $225K. This trader expects the price of AMD to fall from the current $22.41 to $18 by mid May (or 20% drop).

This is the new position since the Volume is way higher than the Open Interest.

AMD Time and Sales

AMD Options Chain

The weekly chart appears to show a break down from the rising bearish wedge.

AMD, Weekly Chart

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