CNBC noted in an analysis that AMD shares faced significant pressure ahead of their earnings release. This followed a record drop in Alphabet shares, weak results from Amazon, and competitor Intel lowering its Q4 revenue guidance while projecting that the PC market slowdown will persist into the first half of next year. These factors drove Intel's stock down 29% on Friday, while AMD shares fell 10.9% that day and dropped another 7.5% on Monday. Analysts suggest that, given the elevated implied volatility ahead of AMD's earnings, investors could sell the November 4 expiration 425/415 put spread and 510/520 call spread to collect a premium of approximately $3.65.