AMC - The Battle Continues

The Resistance Level is at $40 now.

The Market Maker want to park the price right close to it so that when expiration comes the option will be slightly OTM (Out of the money) or barely ITM (In the money). So, no one will exercise them.

At Support Level of $31 we have almost 300,000 PUT contracts = 30,000,000 shares. The MM dont want to trade them in for a loss at Expiration. Thus, they will try to keep the price ABOVE $31! That's why it will become a support level in the market and the stock is expected to bounce off of that level.

Before Trading Hours the price dropped to $31.10 and then bounced up right at opening. I expect the price to range between $35 and $31. We had a high at $37.40 but it also bounced down right away. It is sitting at around $35 now.

We will see if the "Avenger Apes" will come in for a massacre on AMC and start the slaughtering of their own kind. Remember, everybody is the closest only to himself.

I want more Avenger Apes to join the party and to buy PUT Options. Lets drive this stock down where it belongs: at $5.84.