AMD Update 2 - Epic Trades - 10/17/2023

By David Prince

After a dramatic gap down, chip makers have staged an impressive rally.  Our $AMD calls are far from out of the woods.  But the improvement off the morning lows is much better than expected.

As the stock trades above $106 and even looks like it may go green on the day we have to pay attention to the strength.
The trade management plan at this point is more 'wait and see.'
If strength persists we want to give it room.  If the rally loses steam and reverses we'll have to salvage what we can and move on to the next trade.
More to come,