🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

AMC Options Trader Sees Stock Moving Lower To This Level Within Next Four Months

Published 23/12/2022, 17:13
© Reuters AMC Options Trader Sees Stock Moving Lower To This Level Within Next Four Months
AMC
-
APE
-

Benzinga - AMC Entertainment Holdings Inc (NYSE: AMC) disclosed an equity capital raise and a debt for equity exchange. The company also proposed a vote to convert AMC Entertainment Preferred Equity Units (NYSE: APE) into common shares and enact a reverse stock split.

On CNBC’s "Options Action," Mike Khouw of Optimize Advisors said AMC traded at 3.8x average daily put volume on Thursday.

Don’t forget to check out Benzinga's premarket coverage here

There was a buyer of 9,789 of the April 3 puts at an average price of $1.55 per contract, Khouw mentioned.

The trader bet that AMC’s stock will test 2021 lows within the next four months.

AMC Price Action: Shares of AMC Entertainment are down 11.10% at $4.37 Friday afternoon at publication.

Check This Out: Why Cinemark, Liberty SiriusXM And Other Oversold Majors In The Communication Services Sector Look Promising

Photo: Shutterstock

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.