Advanced Micro (AMD) Draws $41M in Unusual Call Activity. Here's What Else the Smart Money Is Doing
AMD: calls took 68% of options premium; unusual trades put $41.3M into calls and $6.4M into puts; 2,336 institutions added shares. Here's what the data says.
AMDAdvanced Micro Devices Inc.$620.68-3.90%at publication · view live →Advanced Micro Devices Inc. (AMD) fell 3.9% to $620.68 in the latest session. The latest catalyst in the headlines: AMD CEO Su shares important supply news with stock market investors (TheStreet). AMD also ranks #9 among the most-discussed stocks on social media, with 17 mentions in the past 24 hours.
Headlines tell you what happened. The money tells you what traders and insiders are doing about it. Below, we run AMD through the GTA Terminal (the options-flow, insider, institutional and congressional trackers our Pro members use) to see what's happening beneath the surface.
What the options market is saying
Options traders exchanged 168,738 calls and 139,567 puts on AMD, a put/call volume ratio of 0.83. In dollar terms, about $266.1M of premium went into calls versus $127.4M into puts (68% call-side): a call-heavy tape that suggests traders are positioning for upside.
Open interest, the positions still on the books, shows a put/call ratio of 1.16 (1,331,170 call contracts vs. 1,544,415 puts outstanding), roughly balanced.
The heaviest activity clustered in the Oct 16 expiration, where $71.7M of premium changed hands (66% in calls).
Several contracts traded more volume than their existing open interest, a sign of new positions being opened rather than old ones being closed:
- $620 calls expiring Oct 30: 6,727 contracts vs. 563 open interest, about $14.4M in premium (in the money)
- $620 calls expiring Oct 16: 5,809 contracts vs. 2,276 open interest, about $5.4M in premium (in the money)
- $625 calls expiring Oct 16: 6,263 contracts vs. 202 open interest, about $4.9M in premium (out of the money)
- $500 calls expiring Nov 6: 329 contracts vs. 92 open interest, about $3.8M in premium (in the money)
For the nearest expiration (Oct 12), max pain, the strike where the most option holders would lose money, sits at $630, 1.5% above the current price.
Biggest contracts by premium
| Contract | Volume | Open int. | Last | Premium |
|---|---|---|---|---|
| $610 Call · Jan 21, 2028 | 1,174 | 1,189 | $160.45 | $18.8M |
| $620 Call · Oct 30 | 6,727 | 563 | $21.45 | $14.4M |
| $140 Call · Jan 15, 2027 | 200 | 1,585 | $475.80 | $9.5M |
| $145 Call · Jan 15, 2027 | 203 | 1,088 | $468.07 | $9.5M |
| $620 Call · Oct 16 | 5,809 | 2,276 | $9.36 | $5.4M |
| $625 Call · Oct 16 | 6,263 | 202 | $7.75 | $4.9M |
Options data: Nasdaq option chains, end-of-day volume and open interest for the session of Oct 8, 2026. Premium = volume × last price × 100.
What insiders are doing
On the other side, insiders reported 12 sales totaling $112.1M. Insider selling is common: executives sell for taxes, diversification and pre-scheduled 10b5-1 plans, so purchases made with personal cash are generally the stronger signal.
| Insider | Role | Date | Type | Shares | Value |
|---|---|---|---|---|---|
| Forrest Eugene Norrod | EVP & GM DSG | Sep 15 | Sell | 17,261 | $8.7M |
| Lisa T Su | Director, Chair, President & CEO | Sep 10 | Sell | 95,000 | $48.1M |
| Jean X. Hu | EVP, CFO and Treasurer | Aug 25 | Sell | 15,000 | $7.1M |
| Forrest Eugene Norrod | EVP & GM DSG | Aug 24 | Sell | 17,261 | $7.9M |
| Mark D Papermaster | Chief Technology Officer & EVP | Aug 20 | Sell | 28,811 | $13.6M |
| Lisa T Su | Director, Chair, President & CEO | Aug 18 | Sell | 15,000 | $7.2M |
| Ava Hahn | SVP, GC & Corporate Secretary | Aug 18 | Sell | 2,993 | $1.5M |
| Paul Darren Grasby | EVP & CSO | Aug 17 | Sell | 15,000 | $7.7M |
Source: SEC Form 4 filings, open-market purchases (code P) and sales (code S).
Institutions and superinvestors
Institutions hold 82.6% of AMD's shares across 4,257 funds and money managers. In the latest 13F quarter, 2,336 holders added to their positions (131.57M shares) while 1,639 trimmed (68.99M shares). 964 opened brand-new positions and 138 sold out completely.
Largest holders
| Holder | Shares | Change | % of shares | Value |
|---|---|---|---|---|
| Vanguard Group Inc | 158.52M | 2.53M | 9.71% | $96.4B |
| Blackrock, Inc. | 150.30M | 4.73M | 9.21% | $91.4B |
| Vanguard Capital Management Llc | 106.50M | 559,911 | 6.53% | $64.8B |
| State Street Corp | 74.36M | -409,533 | 4.56% | $45.2B |
| Invesco Ltd. | 53.17M | 2.73M | 3.26% | $32.3B |
| Jpmorgan Chase & Co | 40.31M | 16.06M | 2.47% | $24.5B |
Among the superinvestor portfolios GTA tracks, 10 own the stock: D. E. Shaw & Co. (D. E. Shaw), reduced, Citadel Advisors (Ken Griffin), added, ARK Investment Management (Cathie Wood), reduced, Renaissance Technologies (Jim Simons' firm), added, Tiger Global Management (Chase Coleman), new.
Source: SEC 13F filings via Nasdaq; superinvestor portfolios from each fund's latest 13F.
Congressional trades
Members of Congress disclosed 21 trades in AMD over the past year (14 purchases, 7 sales).
| Member | Type | Amount | Traded | Filed |
|---|---|---|---|---|
| Gilbert Ray Cisneros, Jr. (D) | Partial sell | $1,001 - $15,000 | Aug 18 | Sep 10 |
| Gilbert Ray Cisneros, Jr. (D) | Buy | $1,001 - $15,000 | Jul 17 | Sep 4 |
| Rick W. Allen (R) | Buy | $1,001 - $15,000 | Jul 14 | Aug 18 |
| Dan Newhouse (R) | Partial sell | $1,001 - $15,000 | Jul 10 | Jul 17 |
| Gilbert Ray Cisneros, Jr. (D) | Buy | $1,001 - $15,000 | Jun 5 | Jul 2 |
| Gilbert Ray Cisneros, Jr. (D) | Buy | $1,001 - $15,000 | May 15 | Jun 8 |
Source: U.S. House Periodic Transaction Reports. Amounts are disclosed as ranges.
Price action and key levels
AMD is +20.8% over the past month, +13.8% over three months and +148.2% over six. It trades 15.0% above its 50-day average of $528.92, and sits 92% of the way through its 52-week range ($188.22 to $658.52). Wall Street's average one-year price target of $650.00 implies +4.7% from here.
The bottom line
| Signal | Reading | Lean |
|---|---|---|
| Options flow | 68% of premium in calls · P/C 0.83 | Bullish |
| Insider trading (6 mo) | $0 bought · $112.1M sold | Bearish |
| Institutions (13F) | 1.91 shares added per share sold | Bullish |
| Congress (12 mo) | 14 buys · 7 sells | Bullish |
| Trend | Above 50-day avg · 3-mo +13.8% | Bullish |
Of the 5 GTA signals above, 4 lean bullish and 1 lean bearish, so the data on AMD lean bullish right now. Signals like these shift quickly around earnings, news and expirations, which is why our members track them live rather than once a week.
This article was produced by the GTA Research Desk from GTA Terminal data as of Oct 11, 2026 2:14 AM ET. It is for information and education only and is not investment advice or a recommendation to buy or sell any security. Global Traders Academy may hold positions in the securities mentioned.
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