(AMC) – What Are Whales Doing With AMC Entertainment

Someone with a lot of money to spend has taken a bearish stance on AMC Entertainment (NYSE:AMC).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don’t know. But when something this big happens with AMC, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga’s options scanner spotted 12 uncommon options trades for AMC Entertainment.

This isn’t normal.

The overall sentiment of these big-money traders is split between 33% bullish and 66%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $268,973, and 6 are calls, for a total amount of $500,480.

What’s The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $10.0 to $25.0 for AMC Entertainment over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for AMC Entertainment options trades today is 3949.7 with a total volume of 42,690.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for AMC Entertainment’s big money trades within a strike price range of $10.0 to $25.0 over the last 30 days.

AMC Entertainment Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
AMC CALL SWEEP BEARISH 03/18/22 $25.00 $144.4K 1.2K 421
AMC CALL SWEEP BULLISH 01/28/22 $23.00 $107.6K 495 4.9K
AMC CALL SWEEP BEARISH 01/14/22 $16.00 $103.5K 400 422
AMC PUT TRADE BULLISH 01/07/22 $25.00 $83.3K 7.7K 7.7K
AMC CALL SWEEP BEARISH 03/18/22 $10.00 $61.2K 64 72

Where Is AMC Entertainment Standing Right Now?

  • With a volume of 38,236,488, the price of AMC is up 1.69% at $22.84.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 61 days.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.

Source link

Copyright © 2022 Billionaire Club Co LLC. All rights reserved

Loading the chat ...