Benzinga | Dec 21, 2021 11:27AM EST

This Is What Whales Are Betting On AMC Entertainment

Someone with a lot of money to spend has taken a bullish stance on AMC Entertainment (NYSE:AMC).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with AMC, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 11 uncommon options trades for AMC Entertainment.

This isn't normal.

The overall sentiment of these big-money traders is split between 54% bullish and 45%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $176,185, and 8 are calls, for a total amount of $279,316.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $28.0 to $85.0 for AMC Entertainment over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for AMC Entertainment options trades today is 5004.14 with a total volume of 76,137.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for AMC Entertainment's big money trades within a strike price range of $28.0 to $85.0 over the last 30 days.

AMC Entertainment Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestAMC PUT SWEEP BEARISH 01/21/ $31.00 $97.3K 2.5K 2.2K 22AMC CALL SWEEP BULLISH 12/23/ $28.00 $55.5K 5.7K 816 21AMC PUT TRADE BULLISH 01/21/ $85.00 $49.5K 555 11 22AMC CALL SWEEP BULLISH 12/23/ $30.00 $42.9K 15.5K 662 21AMC CALL SWEEP BEARISH 12/23/ $31.00 $42.1K 7.6K 16.9K 21

Where Is AMC Entertainment Standing Right Now?

* With a volume of 25,623,305, the price of AMC is up 4.0% at $30.89.

* RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.

* Next earnings are expected to be released in 78 days.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.