AMD Options Traders Bet Over $1 Million on Upside With Same-Day Call at $535

By TrendSpider Editor

A notable options contract crossed the tape in Advanced Micro Devices (AMD) today, with a single call sweep generating over $1 million in premium on a same-day expiration strike sitting in the money. AMD shares are trading at $538.87, down just 0.15% on the session, and remain well within striking d

AMD Options Traders Bet Over $1 Million on Upside With Same-Day Call at $535

A notable options contract crossed the tape in Advanced Micro Devices (AMD) today, with a single call sweep generating over $1 million in premium on a same-day expiration strike sitting in the money. AMD shares are trading at $538.87, down just 0.15% on the session, and remain well within striking distance of their 52-week high of $584.73, suggesting the stock has meaningful upside headroom even after a strong run from the 52-week low of $149.22.

Key Drivers of the AMD Stock Move

• Main Catalyst: One unusual call contract was flagged today at the $535 strike expiring July 24, 2026, the same day as the trade. The contract printed 1,701 in volume against an open interest reading of 92% and generated $1,003,590 in total premium, classifying it as significant same-day directional flow.
• Bull Case: The $535 call is in the money relative to AMD's current price of $538.87, meaning the buyer has immediate intrinsic value. The willingness to deploy over $1 million in premium on a zero-day-to-expiration in-the-money contract points to a trader with high conviction in AMD holding current levels or pushing higher into today's close.
• Bear Case: Zero-day-to-expiration contracts carry extreme time decay risk, and with AMD off 0.15% on the session, any intraday pullback could erode the position rapidly. The stock is also trading roughly $45 below its 52-week high of $584.73, leaving overhead resistance that could cap gains before expiration.

The forward setup for AMD is constructive despite today's marginal decline. The stock has recovered dramatically from its 52-week low of $149.22, and the appearance of over $1 million in same-day call premium suggests at least one institutional participant is positioning for stability or a late-session push. With no offsetting put activity flagged today, the options flow carries a net bullish tilt heading into the weekend. Traders will be watching whether AMD can close near or above the $540 level to validate the positioning reflected in today's unusual activity.

AMD Unusual Options Activity

One unusual options contract was identified in AMD today:

• Type: Call | Strike: $535 | Expiry: July 24, 2026 | Volume: 1,701 | Open Interest: 92%

The contract is currently in the money with AMD trading at $538.87. Total premium across all flagged contracts came to $1,003,590. No put contracts were flagged as unusual today, leaving the options flow with a purely bullish directional lean.

AMD Seasonality

Late July has historically been an active period for semiconductor stocks, often coinciding with earnings season and mid-year portfolio rebalancing, which can amplify intraday volatility and create opportunities for short-duration options strategies like the zero-day-to-expiration trade seen today.

AMD Relative Performance

AMD is down just 0.15% today, a relatively contained move for a stock that has traded across a 52-week range of $149.22 to $584.73, representing a spread of more than $435. At a current price of $538.87, AMD is trading near the upper end of that range, outperforming the broad market's more volatile sessions seen across semiconductor peers in recent weeks and demonstrating resilience near multi-month highs.