Advanced Micro (AMD) June 8 and July 7, 8 and 10 calls are seeing buying interest, as the stock rallied 50 cents to $7.69. The gains in the share price and jump in call volume come the day after the chipmaker unveiled a new set of chips for notebook computers. The new offering provides improved graphics, wireless capabilities and is aimed particularly at gaming enthusiasts. Investors seem to like the idea, sending shares up 5.6 percent higher Wednesday. Today’s action seems to be a continuation of the move. A total of 30,000 AMD calls has traded, almost three times the number of puts.
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.