Bull-bear disagreement intensifies betting on AMD (AMD.US) stock price volatility may reach 9% after earnings.

The first quarter financial report of AMD.US will be released after the market closes on Tuesday, and the options market has already factored in significant volatility expectations. Data shows that AMD's weekly options imply a potential price fluctuation of about 9% after the earnings report, reflecting the market's high concern about the uncertainty of the performance results. Looking at the weekly options expiring on May 8th, the overall market structure tends to be bullish, especially near the strike prices of $350, $360, and $400, where bullish options trading is active, showing investors actively positioning for potential upside. Among them, the trading volume of the $350 call options reached 18,887 contracts, with open interest of 5,812 contracts; the trading volume of the $400 call options reached 13,769 contracts, with open interest reaching 10,425 contracts, making it the largest concentration of open interest among the distant strike prices. However, the put options are also active, indicating that the market has not formed a unilateral bullish consensus. The trading volume of the $300 put options is 13,180 contracts, with open interest of 8,194 contracts; the open interest of the $340 put options is 9,193 contracts. The price of at-the-money straddle options shows that the market expects AMD's stock price to fluctuate by about $29.5 to $30 after the earnings report. Taking the $340 straddle options as an example, its price is around $29.45, corresponding to a fluctuation range of about 8.6% to 8.7%. Based on this calculation, the stock price may fluctuate in the range of $312 to $371 after the earnings report. As of the time of writing, AMD rose over 2.9%, trading at $351.78. Analysts believe that the growth in artificial intelligence-related expenditures may provide support for the company. Wedbush Securities pointed out that the AI investment boom is expected to boost the company's performance. Meanwhile, GF Securities believes that in the context of a significant increase in stock price over the past 12 months, the importance of this earnings conference call has significantly increased, and management's outlook for the future will be a focus of market attention.