Buying AMC put contracts.
The bloom is off the rose for AMC as the stock has clearly broken support. Meme stocks are falling out of favor and with many individual traders now trapped in unprofitable AMC positions, the selloff could quickly accelerate.
The February $35 put contracts should give us plenty of profits if AMC continues lower. And if we get an unexpected rebound, these puts will likely retain a good portion of their value due to AMC’s volatility and the amount of time remaining before expriation.
- Buy (to open) 8 AMC February 18th $35 Puts
- Limit $10.20 or less
- The new position will represent roughly 8.0% of our Spec Model capital
- 12:32 Executed
- Bot 8 AMC Feb 18th $35 Puts @ $9.95