Long

AMD - LONG

By SPYDERMARKET

Updated

Bullish AMD, In aug 2nd calls, 200 strike.

Lagging NVDA.

Note

WF upgraded target to 205 from 190 :)

Note

Repositioned to 8/30 calls, $200. these will be deep in the money.

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Avg. down here, still believe we see $200, I think the whole market was overreacting, the news states it was about trumps comments and chip trade restrictions, I think the market was due for a pullback. Still aiming $200 + by end of august. The semiconductor industry is experiencing some fluctuations due to potential U.S. regulations on exports to China. Here's a breakdown of the current situation:

1. **Stock Performance**:
- **Nvidia (NVDA)**, **Advanced Micro Devices (AMD)**, and **Intel (INTC)** saw increases between 0.6% and 2.6% following a dip on Wednesday.
- The Philadelphia SE Semiconductor Index (SOX) dropped 6.8% on Wednesday, its worst day in over four years.
- The S&P 500 dropped 1.4% on Wednesday, July 17, 2024, as concerns about possible export restrictions on semiconductor equipment weighed on the tech sector.

2. **Market Sentiment**:
- **Evercore ISI** believes that the probability of implementing FDPR (foreign direct product rule) restrictions in the near term is low, viewing the recent weakness as a buying opportunity.
- **BofA** highlights the critical dependence of the global chip industry on the global supply chain, particularly on Taiwan's leading-edge foundries and local ecosystems for the next five-plus years.

3. **Company-Specific Insights**:
- **Taiwan Semiconductor Manufacturing (TSMC)** anticipates higher revenue in the current quarter driven by AI demand, with its U.S.-listed shares rising 0.5%.
- Year-to-date performance: NVDA up ~138%, INTC down ~31%, AMD up ~8%, while the Philadelphia SE Semiconductor Index increased by ~30%.

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Added calls. increased pos by 50%.

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increased 75% of original pos.

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Will be looking for $147 area to finish loading.

SPYDERMARKET

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