SHORT AMD/ BUY AMD 3/8/24 205 PUTS
I’ve traded AMD in Burn very well so when the stock came up as a top pick on the scanner today it was a no brainer. There’s a pure mania right now to be long AMD and this type of frenzy creates dislocations in options prices in the short run. Today looks like a classic “get me long AMD at whatever price!” type of Burn today. The stock still needs to retest $200 on the downside, which usually happens within a few days of breaching a new psychological resistance point. 2 Stars Trade last half hour. 3:30-4:00