Traders are buying calls Friday on Advanced Micro Devices ( AMD ). So far today, 4,993 contracts of the Nov. 25 call have changed hands, against open interest of 388. Today's volume has been in the high side of the bid-ask spread, indicating that these new contracts were opened from the buy side.

InvestorsKeyhole Trade Alert

IK-> The technicals for AMD ($23.25 up $0.95) are bullish with an upward trend. The stock has support around $20.00. Look at the Oct. 16/19 bull-put spread for a 22-cent credit. That's a 7.9% return and the stock has to fall by 18.3% to cause a problem. [InvestorsKeyhole, various news and data services]

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Originally published on InvestorsObserver.com

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.