AMD Credit Put Spread (Bull Put) — Jun 18, 2026

AMD (ADVANCED MICRO DEVICES INC COM) presents a credit put spread (bull put) opportunity with very elevated implied volatility. IV Rank 79. IV 5777.0% trades 1861.0pp above 30-day HV (3916.0%). This setup favors net premium sellers.

Sell the $350 put and buy the $340 put for protection. Bullish setup — profits if AMD stays above $350 at expiration. Defined risk equal to the spread width minus credit collected. Underlying ~$355.26, 44 DTE. Max profit $475 per contract, max loss $525, 90.5% return on risk, 83% POP. Breakeven at $345.25.

Management: take profit at ~50% of max profit ($238). Cut at 2x credit ($950 loss). If short strike is breached with > 14 DTE, consider rolling out for a credit. Close before expiration week to avoid gamma risk.

Underlying: AMD @ ~$355.26 Expiration: Jun 18, 2026 (44 DTE) Legs:

• Sell AMD Jun 18, 2026 $350 Put (delta -0.17, mid $28.30)
• Buy AMD Jun 18, 2026 $340 Put (delta -0.13, mid $23.55)

Use limit orders at the mid or slightly worse. Verify bid-ask spread (currently ~1.4% of mid) before sending.

Take profit at 50% of max profit ($238). Cut loss if position reaches 2x credit received ($950 loss). Roll if tested with > 14 DTE remaining.