Volume Spike Investor

Advanced Micro Devices Inc. (NYSE: AMD) is at it again in unusual call option activity, but the most interesting part of the trading seen earlier this afternoon is that these were in the LEAPS all the way out to the Jan-2010 $10.00 CALLS….

We have seen 20,798 of the JAN10 $10.00 CALL options contracts trade hands.  The open interest before today was listed only as 28,111 contracts.  As a reminder…. 20,000 options contracts equal 2 million shares fully leveraged.

AMD has seen 29 million shares trade hands as of 3:19 PM EST and shares are down almost 3.9% at $6.295 today.

Avg. Volume:      22.8 million shares
52-week range:  $5.31 to $16.19

Jon Ogg
June 24, 2008