Earlier today, Nvidia (NVDA) made headlines by announcing a partnership with Intel (INTC) to co-develop PC and data center chips. The move sent Intel stock toward its best day on record, while Nvidia snapped a three-session losing streak. Meanwhile, sector peers Advanced Micro Devices Inc (NASDAQ:AMD) and Micron Technology Inc (NASDAQ:MU), are charting diverging paths in response.
AMD is digging itself further into a pit today, last seen down 1.4% to trade at $156.98. The equity is currently on a three-day losing streak, extending its cooldown from its August 52-week highs. A rebound could be in play if its 80-day moving average offers support.
Options traders have been bullish of late, leaving ample room for bears to move in, should this sentiment begin to unwind. At the International Securities (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity's 10-day call/put volume ratio of 2.51 sits in the 86th percentile of readings from the past year.
On the flip side, Micron stock is up 5.8% at $169.33, boosted by last week's bull note and a boost ahead of next week's earnings report. The stock is eyeing a 12-day win streak, after touching a record high of $170.45 earlier today. The shares have surged 101% in 2025.
MU is seeing an uptick in bullish attention in the options pits, too. So far today, 249,000 calls have been exchanged, compared to 189,000 puts, activity that's double the expected volume. The September 170 call is the most active contract, with new positions being opened there.
