Dallas, Texas 08/20/2013 (Financialstrend) – The option traders on the stock of Advanced Micro Devices, Inc. (NYSE:AMD) had recently bet for a breakout in the share prices with anticipations for higher short term gains. The option players had continued to trade bullishly on this stock in the recent days and the stock had recently observed around 21000 calls that had crossed the tape. This was observed to be an increase of around 58% over the average intraday trading volume for the company’s call options and it was more than seven times the number of puts that were traded on the stock on the same day.
The highest attention was garnered by the August Call at strike price of $3.50 per share which ascertained the expectations of short term price gains in the shares. The profit of the buyers is expected to increase as the shares of Advanced Micro Devices, Inc. (NYSE:AMD) move north beyond the level of $3.71 per share before the close of this week when the options for August are expected to expire. Investors may thereby keep a close watch on this stock with the potential to earn significant returns in the near future.
The shares of Advanced Micro Devices, Inc. (NYSE:AMD) had on Monday traded to report a closing price of $3.60 per share on Monday, which was found to be a dip of 1.64% over the previous close. The stock had moved through the day to report price movements in the range of $3.59 to $3.68 per share for the day, while the stock’s present 52 week low price level is at $1.81 and 52 week high level is at $4.65 per share for the company. There are around 720.02 million shares of the company presently being traded with the market cap on Monday at $2.59 billion and institutional ownership at 56%.