I sent this alert to my Options360 subscribers this morning…

I expect this could be a big win. 

Here it is:

Advanced Micro Devices (AMD) is a leading chipmaker with best-of-breed products in graphics, AI, and more recently data centers.

The stock is down some 20% from the August high on general pressure on the sector for supply chain issues and concerns regarding the closing its acquisition of Xilinx (XLNX) especially with new scrutiny from China on tech companies power.

But from a technical standpoint, the stock left an island low by holding the $100 level and has now cleared the first level of resistance above the 50-day moving average around $105.50.

The company reports earnings on Oct.26th. I think it should work higher in the weeks leading to the release.

Let’s use a diagonal which encompasses the event, in which the long should hold its premium and provide the opportunity for a couple of rolls and then the decision whether to hold through the report.

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I can’t share the recommendation with you because it would be unfair to my subscribers…

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To Your Success,

Steve