AMD Perpetuals Slip Below Longs’ $522 Break-Even After Earnings

A perpetual contract tied to Advanced Micro Devices (AMD) fell back below the broader long cohort’s roughly $522 break-even level after surrendering about two-thirds of its post-earnings rise.

AMD released third-quarter results at 4:15 p.m. ET Nov. 3. Revenue increased 45% from a year earlier to $13.377 billion, and adjusted earnings reached $2.09 per share. Both topped expectations, as did data center revenue and the company’s fourth-quarter revenue guidance.

The contract rose from about $486.10 before the results to a $530.51 peak, a 9.14% gain. It was $500.80 in the update, up 3.03% from its pre-results level. At its peak, the contract moved above the cohort’s break-even mark and the $527.38 average entry price for the largest long position listed, address 0xfd6a.

That position was valued at about $4.25 million in the update and showed an unrealized loss of roughly $225,200. The update also listed about $111 million in 24-hour trading volume and $17.51 million in notional open interest.