(AMD stock and its options are extremely liquid as AMD is one of the top 10 most traded stocks.)
Previously, I’ve written about how AMD’s profitability has been inflated by the cryptocurrency bubble. This will likely come to an end in the coming quarters as the market for video cards will shrink thanks to the emergence of ASICs for top cryptocurrencies. We are already seeing the effects of this as prices of video cards continue to normalize at the retail level. From PC Part Picker:
Most investment bank analysts anticipate that AMD’s earnings will go to the moon. While that type of behaviour may help their employer earn underwriting profits if AMD chooses their employer for an equity raise, these optimistic projectons are unlikely to materialize.

I/B/E/S estimates for AMD, courtesy of Sentieo.
In my opinion, AMD is a compelling short as its earnings will likely shrink rather than grow in the coming quarters.