Signs That AMC Entertainment Could Lose 50% Value By September

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that AMC Entertainment Holdings Inc AMC traded more than 1.4 times its average daily volume on Tuesday. It is one of the busiest single stocks, he added.

Check out other stocks making moves in the premarket.

There were buyers of 2,500 of the September weekly 13-puts at an average price of 63 cents per contract and sellers of 5,000 of the September 11-puts at an average price of 30 cents per contract, Khouw mentioned. Traders expect shares of AMC Entertainment to plummet around 50% by September expiration, he added.

Also Read: BlackRock Says There Is No 'Soft-Landing': Central Banks Will Have To Plunge Economy Into A Deep Recession To Stop Inflation

AMC Price Action: Shares of AMC Entertainment declined by 6.30% to settle at $22.45 on Tuesday.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date of Trade
ticker
Put/Call
Strike Price
DTE
Sentiment
Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!