Advanced Micro Devices (AMD: sentiment, chart, options) said today that it will take a slew of charges in the fourth quarter. The company axed 600 jobs in the quarter, 100 more than originally planned, which will result in a $70 million restructuring charge. AMD will also take an other-than-temporary impairment of $20 million based on its investment in Spansion Inc., while its 2006 acquisition of ATI Technologies will result in a goodwill impairment charge.

The chipmaker said it can't yet estimate the size of the ATI-related charge. In the June quarter, AMD swallowed an $800 million charge stemming from that acquisition.

Investors are largely shrugging off today's news, with the shares holding close to breakeven this afternoon. Option volume is heavy today on both the call and put sides; the most active put is the April 3 strike, with 3,333 contracts changing hands on open interest of 15,485. Another 2,252 contracts have crossed the tape on the January 2010 2.50 put, which carries open interest of 29,951.

As for AMD's calls, the January 2009 2.50 strike has seen 2,309 contracts change hands on open interest of 20,757, while the January 2010 2.50 strike has traded volume of 5,030 contracts on open interest of 10,723.

At last check, the stock was up 1 penny at $2.11.