AMD Options Signal Bullish Rebound: Key Strikes and Strategies for Feb 6, 2026

• AMD surges 7.9% to $207.71, rebounding from a 20% post-earnings selloff
• Options data shows heavy call open interest at $210 and $250 strikes, with puts dominating at $200
• Cathie Wood’s $28.3M AMD ETF buy and AI-driven growth forecasts fuel long-term optimism

The market is whispering a rebound—AMD’s 7.9% intraday rally isn’t just noise. Options traders are stacking calls at $210 and $250, while puts at $200 hint at a floor. Here’s how to play it.Where Institutional Money Is Moving

Let’s start with the options chain. This Friday’s $210 call (AMD20260213C210) has 9,787 open contracts, suggesting retail and institutional bets on a short-term pop. But the real story is the $200 put (AMD20260213P200), where 8,407 puts are open. That’s not just hedging—it’s a signal that big players see $200 as a critical support level. And don’t ignore the block trades: 1,500 puts sold at $200 (AMD20260515P200) for $2.88M. Someone’s betting AMD won’t crater below $200 in the next three months.

News vs. Options: A Bullish Alignment

AMD’s Q4 results were a mixed bag—$10.27B revenue, 39% data center growth, but Q1 guidance triggered a selloff. Yet Cathie Wood’s Ark Invest pounced, buying 141K shares for $28.3M. Analysts still rate it a “Strong Buy” with a $288 price target. The options market agrees: 30 “Strong Buy” ratings vs. 12 “Hold” translate to that $210 call activity. But here’s the catch—Q1’s 5% sequential revenue drop worries investors. That’s why the $200 puts are so popular. The stock’s rebound today (breaking above $200) could be the catalyst to test $220 resistance.

Actionable Trades for Today

For options traders, the AMD20260213C210 call is a high-conviction play if AMD holds above $200. With 10 days to expiry, a move to $220 would net 10%+ gains. Conservative players might sell the AMD20260213P200 put for $3.80–$4.20 premium, collecting income while capping downside risk. For stock buyers, consider entering near $200 if the 200D MA (178.42) holds. A breakout above $215.34 (30D support) targets $220–$230, aligning with the 100D MA at 218.06.

Volatility on the Horizon

AMD’s story is a tug-of-war between AI optimism and near-term execution risks. The options market isn’t screaming “buy the dip”—it’s hedging. But with $288 price targets and a PEG of 0.52, the long-term case is intact. If AMD closes above $209.05 (today’s high), watch for a test of the 30D MA at $215.34. Fail there, and the $200–$205 range becomes critical. Either way, this isn’t a “buy and forget” trade—it’s a dance with momentum. Stay nimble, and let the data guide your next move.