Well, the degenerate gambler twenty-somethings over at /WSB are at it again with their AMD obsession. They were counting on a huge blowout to the upside to repair any damage done to their accounts. Such as this chap:
And here’s another fellow who is counting on AMD to change the color of his portfolio from “deep red” to merely “a nice shade of pink”:
Even the fact AMD was down during normal trading hours gave one guy a reason to say this was a good thing, because – – with a logic I can’t quite grasp – – that means it would go up a lot after-hours.
Well, earnings are indeed out, and as I’m typing this, the stock has barely moved. It’s down literally a few pennies. So anyone long options, either puts or calls, is going to get smacked. The option sellers win big-time on this one (assuming this very modest change stays intact).
It’s actually pretty remarkable how well this creature has held up, considering the nosebleed valuation levels.