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.
Today, Benzinga's options scanner spotted 21 options trades for AMC Entertainment.
This isn't normal.
The overall sentiment of these big-money traders is split between 14% bullish and 85%, bearish.
Out of all of the options we uncovered, 20 are puts, for a total amount of $2,085,747, and there was 1 call, for a total amount of $26,400.
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 $13.5 to $40.0 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 3538.17 with a total volume of 87,031.00.
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 $13.5 to $40.0 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 | PUT | SWEEP | BEARISH | 05/20/22 | $21.00 | $530.4K | 7.8K | 6.0K |
| AMC | PUT | SWEEP | BEARISH | 05/20/22 | $21.00 | $335.3K | 7.8K | 972 |
| AMC | PUT | SWEEP | BEARISH | 05/20/22 | $21.00 | $219.9K | 7.8K | 7.3K |
| AMC | PUT | SWEEP | BULLISH | 04/14/22 | $23.00 | $162.6K | 14.9K | 5.3K |
| AMC | PUT | SWEEP | BEARISH | 05/20/22 | $28.00 | $118.5K | 6.2K | 140 |
Where Is AMC Entertainment Standing Right Now?
- With a volume of 11,218,438, the price of AMC is down -4.54% at $22.24.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 31 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.
