Advanced Micro Devices - Moderated (AMD) Message Board

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Technology Stocks : Advanced Micro Devices - Moderated (AMD)

AMD 242.19

-1.7%

3:59 PM EST

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To: Magrathea who wrote (221700)	12/28/2006 11:12:19 PM
From: Milan Shah	Read Replies (3) of 275872

All, Any theories on the very large open-interest in Jan 20 puts and Jan 22.5/25 calls? One way to read it is that a big option-writer is expecting AMD to be between 20 and 22.5 come Jan, and nicely separated a large number of options buyers on either side from their money. (ie., the smart money sold the options) The opposite view could be that someone is betting big that AMD will be extremely volatile in Jan - shooting well past 25 or sinking well below 20. (ie., the smart money placed a very large bet) Been trading AMD options regularly, but have never seen such a huge open-int (> 100K) ever before. Normally, the smart money writes the options, but given the large OI, did the smart money buy the straddle?

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