A couple of bearish trades in the chip sector: Advanced Micro (AMD) is down 12 cents to $4.81 and one player buys 17K Jan10 puts at the $4 strike for an average of 24 cents. 19K now traded. It might close. Open interest is 21K. A few minutes before that, the Intel (INTC) Jan11 12.5 – 22.5 risk reversal trades at 76 cents, 4200. The investor sold calls, bought puts. INTC is up a penny to $19.23.