4/22/19 Options Trades AMD 27.68 to 28.18

I closed out some options contracts today. I had sold puts around 3/20/19-3/22/19 when AMD was hovering around 25-27. The strike were 23.5-24.5, expiry 4/26/19, and premium were around $1.2. I bought to close with only about 2-3 cents today. Return is around 5% for 4.5 weeks or about 1% per week. I had also sold covered call on 3/21/19 with strike of 30, expiry 4/26/19 and premium of $1.01. I bought to close with 8 cents today.

I sold more puts with strike 26.5, expiry 5/31/19 and premium of $1.65. Computex is May 28-June 1, 2019. I feel pretty confident that AMD should not be lower than 27 by that date.

Tesla Autonomous Driving presentation revealed a custom Tesla chip, which as it turned out, is NOT AMD’s third design (embedded) win.

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