Advanced Micro Devices Inc.
(AMD) opened at 7.57. So far today, the stock has hit a low of 7.44 and a high of 7.98. AMD is now trading at 7.74, up 0.31 (4.1%). The stock hit its 52 week high of 16.19 in July and set its 52 week low of 5.31 in January. AMD has been slipping for the past year. Advanced Micro Devices shares have been soaring on news that the U.S. Federal Trade Commission has opened an investigation into Intel
(INTC) and how its conduct affects AMD. The move follows a 2005 lawsuit filed by AMD that accuses Intel of engaging in an aggressive and global campaign to shut AMD out of the marketplace. Technical indicators for the stock are bullish and steady while S&P gives AMD a neutral 3 STARS (out of 5) hold rating. If you are looking for a hedged play on this stock, consider an October covered call at the $8 level. That stock would have to drop by more than 12.7% before we would start to lose money. [RHF - Seven Summits Strategic Investments NewsBite]