AMC is now down 99% from its "meme" mania-fed all time high.
Very recently another gigantic plunge of 30+%. Seems at the moment though that at least some buyers are stepping in. Blood is more than in the streets with this one, holy moly.
I doubt I am the only one seeing the huge divergences in the RSI on all time frames. There is also a crystal clear trend line showing in the daily RSI which was recently broken. If it holds, AMC should see some relief. Considering how far it has fallen, the percentage gains could be pretty nice.
I took a small ish position with VERY far OTM calls here. $15 leaps expiring in January next year. The IV isn't overly high but it appears high enough that any decent relief rally will produce strong profit potential. A possible short term short squeeze could easily 10x+ some contracts on the chain. Whether these will be one of them isn't up to me.
It’s high risk / high reward. I’m personally DCA’ing weekly into LEAPs expiring in Jan 2026. If it hasn’t recovered / bounced at least once between now and then it will mean it’s bankrupt.
Winks01
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lots of gaps still need to be filled to the upside