NOT FINANCIAL ADVICE - AMC is a better bet than GME but still dangerously high
If AMC were to crush and replace all competitors, they would still be valued way too high.
Againj just like GME, directly shorting this is a good way to get liquidated, however, buying some put options could be the better way to play as this is likely to come down over the next year.
For those buying right now: If you are buying because of a dividend, that dividend was only significant when the share was $20, now the same dividend is technically worth a third of what it was when you consider the share price has gone up 300% (and that is assuming streaming hasn't taken the future-wind out of AMC's sails). If you bought in the last 4 hours just know that you bought resistance and that is dangerous before a confirmed breakout, you will likely see a monster pull back to the 50S if things run out of gas tomorrow or Friday.
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If I had to choose between selling this stock or buying it for the purpose of selling calls, I would still choose not to buy it at the current price and especially not for the hopes of a small gain through selling calls.
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I wonder how many people will hold AMC while the company shorts their share holders by doing exactly what they claimed they wouldn't, dump shares any time they want.... sec.report/Document/0001104659-21-076091/
The company is selling 11.5 million shares and they are publicly telling their investors that they know the company is way overvalued and that's why they are sucking money out of investor pockets, they are also recommending investors DOT buy their company.
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Just want to thank my sponsor, JESUS CHRIST.
I genuinely hope nobody bought for the purpose of selling calls, they might as well buy the top and sell the bottom.
On second thought, this ridiculously high IV makes for some very cheap spreads. Not much looks good here to me. Good luck.
rolledchange
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@cputech, I couldn't have done it without your luck ;) I can teach you if you want? Jk
cputech
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Looking at the strikes in AMC , they would need to add some more strikes at a larger price to make this work.
cputech
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I think you would be destroyed on Volatility crush. if I HAD to buy puts at the current IV level (I wouldn't want to), I would buy several wide ($20+) PUT SPREADs instead to defend against Vol Crush. In any case the best bet in my book is to sell OTM call spreads and collect on the eventual Vol Crush.