AMD: Targeting HOP Level at $208.051: Holding 3.618 as SupportLast week during earnings, INTC reversed at the PCZ of a Bearish 5-0 after trading just below the highly contested 50 dollar strike. Now AMD is doing something similar, except its highly contested strike is below it at $170-$175. I find it a little bit more likely that AMD goes for a move up towards the 200 level which would align it with the Bearish HOP level where then one may consider switching to a Bearish bias.
I will be playing it via synthetic longs and vertical spreads
This is an updated Post after realizing that AMD just filled a gap visible on the daily, I also felt like reposting it on the daily timeframe because after hours activity does not really matter for the options position.