$AMD(AMD.US)
Bet against $AMD(AMD.US) after a beat. 📉
Going into earnings, the market was already weak, with QQQ testing its 200-day and SPY breaking its range. AMD still ran about 5% into the print, so I expected “beat, then sell the news.”
Revenue beat at ~$13.38B, and it popped about 8% after hours, then faded and dropped roughly 17% the next day.
My trade: 470/465 put spread (Nov 9), in at $1.76, out at $3.50, about +99%. I took profit instead of holding for the full $5 through NFP and the weekend. Defined risk the whole way.
Do you think AMD keeps sliding, or is this a dip to buy?
My own view, not financial advice.
