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Here's What Options Reflect About AMC Entertainment's Possible Rally

October 19, 2021 11:16 am
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Here's What Options Reflect About AMC Entertainment's Possible Rally

On CNBC's "Options Action," Mike Khouw from Optimize Advisors said AMC Entertainment Holdings Inc (NYSE:AMC) saw a log of activity on Monday.

It was the fourth most active single stock for the day. AMC Entertainment is a very popular stock option that trades with names like Apple Inc (NASDAQ:AAPL), although it's less than a thousand the size of the iPhone maker, Khouw said.

See Also: Why Jim Cramer Says AMC Entertainment CEO Adam Aron Is 'Pulling Off A Miracle'

There were more than 54,000 buyers of weekly 43 strike calls at $1.71 per piece on average. Khouw said this showed that traders are betting AMC Entertainment’s rally could continue to the end of the week. The stock could trade above $44.70 by Friday, he added.

After trading higher in Monday's session, AMC's stock is trading down 1.6% to $42.35 at publication time.

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