Advanced Micro Devices
(AMD) opened at $6.45. So far today, it has hit a low of $6.44 and a high of $7.41. AMD is now trading at $7.05, up 0.52 (7.96%). After hitting a one-year high of $16.19 in July, the stock hit a one-year low of $5.31 in January. AMD shares are rising today after the company filed a brief in its antitrust lawsuit against Intel Corp.
(INTC). The brief identifies evidence allegedly proves INTC paid and pressured computer giants like Dell Inc.
(DELL) and Hewlett-Packard Co.
(HPQ) not to buy microprocessors from AMD in order to preserve its monopoly. Technical indicators for AMD are neutral and deteriorating, while S&P gives the stock a neutral 3 Stars (out of 5) Hold rating. For a hedged play on this stock, consider a July bull-put spread below the $6 range. AMD hasn't been below 6 since since April, and could lose up to 15.4% before this trade loses money. [LHF - Seven Summits Strategic Investments]