27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
AMC Entertainment Holdings Inc (NYSE:AMC) shares are trading lower by 1.32% to $4.12 Friday morning and lower by 14.63% over the trailing five sessions. The stock is falling possibly in reaction to a recommendation from special master Corinne Elise Amato on the objections raised in relation to the company's proposed settlement with shareholders.
What Happened?
AMC shares have been volatile following the company's April proposal for a settlement with shareholders, involving the conversion of AMC Preferred Equity Units (APE) into common shares. The settlement aims to facilitate a recapitalization strategy that would grant AMC access to equity for debt servicing.
See Also: What's Going On With Tesla Stock Today
As part of the settlement, a reverse split is anticipated, with holders of AMC common stock receiving one share for every 7.5 shares owned, alongside the planned conversion of preferred APE units into common stock.
However, the settlement encountered opposition in the form of a class action complaint, prompting a review of objections by the special master appointed by Delaware's Court of Chancery.
In a report issued on June 21, the special master recommended denying the objections to the settlement. AMC has provided a court document on its investor relations site, announcing a two-day hearing scheduled for June 29 and June 30 to address the matter.
According to data from Benzinga Pro, AMC has a 52-week high of $27.50 and a 52-week low of $3.77.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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