On Aug. 23 Advanced Micro Devices, Inc (NASDAQ:AMD) broke up from a bull flag pattern called out by Benzinga on Aug. 18. A number of options traders must have seen the move coming: on Aug. 23, the traders bet over $1.6 million AMD’s stock would rise.
On Wednesday, it was reported the U.S. Department of Energy was nearing a deal worth $500 million to purchase a supercomputer made with AMD and NVIDIA Corp (NASDAQ:NVDA) chips.
The government initially planned to use chips made by Intel Corp (NASDAQ:INTL), but Intel is experiencing a production delay.
The AMD Chart: After....More>>>