AMD is a SMH leader & should follow it's cousin (literally) NVDA in breaking out here. AMD break out here will see the stock go into the 60s - go long now while the stock is below $55 for solid profits.
Buy-write - Buy 100 Shares : Sell 1 Oct $65c. Net gains = 20% on the stock run + $2.75/share premium or ~5% premium for max gains of 25%.
Synth Long - Buy Jan $55c ($8.30), sell Jan $55p ($9.60). Capture nearly 18% premium on the puts, pay 15% premium on the calls - net credit trade, infinite upside gains on calls.
To increase upside exposure, move call leg expiry up while keeping trade net credit: can buy July ~70delta ($48 or $50) or Oct ~70delta ($45 or $48) to act as stock; or buy $July ~30delta ($60) calls to speculate on powerful upside move..
In my opinion, by keeping the trades as credit-synth longs the upside is maximized while downside is more minimal than a credit spread unless stock falls apart below $48.50 (add put collar for downside protection if need be). Can also move around expirations depending on risk. Sell July puts, buy Jan calls for debit-synth long for example. Really depends on risk profile & strategy.