Tuesday and Wednesday in AMC we had a PUT to Call Option Trading of 66.6% More Puts were traded than usual.
The average trading volume is down by 50% compared to August 25th. Share trading is around 50 - 60 million and this is not enough to drive the price up. On August 31 we had 127 million trades and that drove the price up to $47! On August 25 trading volume was 208 million shares and that drove the price the price down by 1.33% to $43. I would bet if the current trading volume doesnt more than double, like 130 million or so, AMC will not go any higher. The DAYS TO COVER was 1.8 days at that point and evaporated to 0.9 days.
The current SWEET SPOT OF THE MARKET MAKER is between $39 - $41. This is the ending price in AMC for this week IMO. I have a Put to cover this weekend, A short Put, at $42 Dollars. So I hope it will just be OTM, lets ask if there might be a chance to hit $42? All over all I am still short on AMC with PUTs.
Strong Resistance levels are at $45 - $46, with 15,000 Call Options, Those levels had also been stronger in the past.
Support Level is around the $38 level with about 6,500 Put contracts but all of those expire this Friday. The next level down is at $35 with under 3,000 Put contracts.
I would say I expect AMC to float back to the mid 30s next week as long as there is no new March on Rome by the Ape Army.
And as the apes play this game they only make Goldman and Sachs rich, the trade executing firm for AMC. And of course the Brokers. Play often every week and use huge bets. Good job guys. Let me know you apes who of you actually got rich in this Ponzi scheme? Let me know in the comment section
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