Buying AMD call contracts.
Advanced Micro Devices (AMD) designs microprocessors for computers and consumer electronics.
The company generates reliable profits and is a leader in its industry. Yet the stock has lost a tremendous amount of value as tech stock have traded lower.
Today, AMD is trading near a support level that appears to be holding. With the market ripe for a bear market rally, AMD could give us a great shot at quick rebound gains.
Buying in-the-money call contracts gives us a chance to profit from any positive movement for AMD over the next several weeks. Meanwhile, these call contracts should retain some extra value even if the stock pulls back further.
- Buy (to open) 6 AMD June 17th $75 Calls
- Limit $20.00 or less
- The new position will represent roughly 9.8% of our Spec Model capital
- 9:58 Executed
- Bot 6 AMD June 17th $75 Calls @ $17.85