Although Intel (INTC) rejoined the semiconductor conversation last month thanks to a Nvidia (NVDA) partnership, don't forget about Advanced Micro Devices Inc (NASDAQ:AMD). The chipmaker is trading at its highest level since late August today, last seen up 5.8% to trade at $170.15 after Semafor reported Intel is considering adding the company as a foundry customer.
Options traders have never forgotten about AMD, it seems. The stock made an appearance on Senior Quantitative Analyst Rocky White's list of equities that attracted the highest options volume in the past two weeks. Per our records, AMD has found itself on this list every week since early June. In the last 10 sessions, AMD saw 4,490,161 calls and 1,939,393 puts, the third highest call/put ratio on the list. The 160-strike call has been popular among those options bulls, as well as the 160- and 162.50-strikes.
AMD logged monthly losses in August and September, a broader pullback that has found support at its 80-day moving average. The shares remain locked in an uptrend formed from their April 6 two-year low of $76.48, however.
Now looks like a great time to weigh in with options. This is per the equity's Schaeffer's Volatility Index (SVI) of 47% that sits in the 19th percentile of annual readings, indicating options traders are pricing in low volatility expectations. Plus, AMD's Schaeffer's Volatility Scorecard (SVS) of 93 out of 100 suggests it tended to outperform volatility expectations over the past year.
