Someone with a lot of money to spend has taken a bearish position AMC Entertainment AMC.
And retailers should know.
We noticed this today when the large position appeared in the publicly available options history we track here at Benzinga.
Whether this is an institution or just a rich person, we don’t know. But when something this big happens to AMC, it often means someone knows something is going to happen.
So how do we know what this whale did?
Today, Benzinga’s options scanner spotted 10 unusual options deals for AMC Entertainment.
It is not normal.
The overall sentiment among these big money traders is split between 30% bullish and 70% bearish.
Of all the special options we uncovered, 4 were puts, for a total of $468,701, and 6 were calls, for a total of $241,888.
What is the target price?
Taking into account the volume and open interest on these contracts, it appears that the whales have been targeting a price range of $13.0 to $65.0 for AMC Entertainment over the past 3 months.
Volume development and open interest
Looking at volume and open interest is an insightful way to do your due diligence on a stock.
This data can help you track the liquidity and interest in AMC Entertainment options for a given strike price.
Below we can observe the development of call and put volume and open interest, respectively, for all AMC Entertainment whale activity within a price range of $13.0 to $65.0 over the past 30 days.
AMC Entertainment option volume and open interest over the past 30 days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade type | moods | Exp. Date | Strike Price | Total trade price | Open interest | Sound volume |
|---|---|---|---|---|---|---|---|---|
| AMC | I PUT | SWEEP | NEUTRAL | 07/15/22 | $40.00 | 369.1 thousand dollars | 5.1K | 252 |
| AMC | CALL | SWEEP | BEARS | 19.01.24 | $15.00 | 84.5 thousand dollars | 2.9K | 129 |
| AMC | I PUT | TRADE | BEARS | 16.09.22 | $14.00 | $47.6K | 8.4K | 5.5K |
| AMC | CALL | SWEEP | WHIP | 07/22/22 | $16.00 | 41.4 thousand dollars | 5.7K | 3.7K |
| AMC | CALL | TRADE | NEUTRAL | 16.12.22 | $13.00 | $37.3K | 621 | 83 |
| Symbol | PUT/CALL | Trade type | moods | Exp. Date | Strike Price | Total trade price | Open interest | Sound volume |
|---|---|---|---|---|---|---|---|---|
| AMC | I PUT | SWEEP | NEUTRAL | 07/15/22 | $40.00 | 369.1 thousand dollars | 5.1K | 252 |
| AMC | CALL | SWEEP | BEARS | 19.01.24 | $15.00 | 84.5 thousand dollars | 2.9K | 129 |
| AMC | I PUT | TRADE | BEARS | 16.09.22 | $14.00 | $47.6K | 8.4K | 5.5K |
| AMC | CALL | SWEEP | WHIP | 07/22/22 | $16.00 | 41.4 thousand dollars | 5.7K | 3.7K |
| AMC | CALL | TRADE | NEUTRAL | 16.12.22 | $13.00 | $37.3K | 621 | 83 |
Where is AMC Entertainment right now?
- On volume of 24,187,533, AMC rose 1.32% to $15.34.
- RSI indicators suggest that major stocks are currently neutral between overbought and oversold.
- The next earnings are expected to be published in 21 days.
What the experts say about AMC Entertainment:
- B. Riley Securities decided to maintain its neutral rating on AMC Entertainment, which currently has a price target of $11.
- Citigroup decided to maintain its sell rating on AMC Entertainment, which currently has a price target of $5.
Options are a riskier asset than just trading stocks, but have a higher potential for profit. Serious options traders manage this risk by learning daily, expanding and exiting trades, following more than one indicator, and watching the markets closely.
If you want to stay up to date with the latest options trades for AMC Entertainment, Benzinga Pro gives you real-time option trade alerts.