AMC Options Volume Tops 300,000 as Shares Extend 20% Surge on Earnings Beat
Updated
Updated · CNBC · Jul 20
AMC Options Volume Tops 300,000 as Shares Extend 20% Surge on Earnings Beat
3 articles · Updated · CNBC · Jul 20
Summary
More than 300,000 AMC options contracts traded early Monday, nearly 5 times the 30-day average, with bullish flow dominated by almost 100,000 calls bought against 62,000 calls sold.
Record box office for Christopher Nolan's "The Odyssey" and an AMC earnings beat drove the activity, after the chain posted double-digit revenue growth and drew 4.3 million guests globally over the weekend.
Over $6 million in options premium changed hands, including $5.5 million in calls, with Aug. 21 calls at $2, $2.50 and $3 among the most active strikes.
The options burst followed a stock rally of more than 20% Monday and capped an almost four-month climb of just under 150%, though AMC shares still sit 99% below their 2021 peak above $700.