$AMD ahead of earnings
AMD had an impressive active sequence in July and managed to clear the recent channel high around $91.5. Earnings are due tomorrow after the closing bell. The stock is priced for perfection given the recent move. Other chip makers delivered mixed results so it will be very important to see if AMD can continue to outperform in the long term. Guidance for the current quarter will be an important talking point. From a technical perspective, $100-110 is in play in case of a strong beat. For support, in case it breaks $90, see if $85-88 holds in order for the pattern to remain somewhat constructive. Buying some call spreads for earnings may be the best alternative. Buying the $100 and selling the $110 calls may be a good risk/reward opportunity in case you want to play the earnings report. Otherwise, wait for the first reaction once the report hits the tape. 
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