With your 400p on adobe, do you think it will drop after hours like Netflix after it’s last earnings ? Are you playing to 1 Apr?
AMC is surprising me here. Showing strength when SPY drops, but correlates on SPY recovery…
RSI on the 1 day chart for amc is nearing 70 and it’s over the upper BB. Last time this happened (nov 8th) it spiked down 12%. Time before that was sept 10 and bled the next few days. Thoughts?
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If we close around 21 this will really look like 11/8 spike again which had a big drop. Need to assess if there’s anything else correlated to 11/9 that occurred but starting to look similar on the 1 day chart
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AMC strangle got sold early at 21.89% gain.
Re-entered this time with 10 strangles for next week opex again.
I’m getting bolder with this strat, since it’s become my most consistent profitable approach.
Defo overnighters this time, and will sell next day or whatever day I see profit.
Hey bud, this is the AMC thread, but yeah I’m not really sure how ADBE will move after today.
My ADBE PUTs also got sold early at 34.04% gain. I don’t mind this at all since it all adds up real quick.
Really good day for me.
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Volatility is still crazy high here…
GME bull-flagging this entire day, it seems.
AMC is also showing a possible strong double-bottom here.
I’m not taking blind single legged gambles, though.
So it’s always strangles or straddles for me.
Spread it good, get in deep, exit with great release.
Quick update: Broken bear flag on AMC…
Let’s see how this moves for the next few days.
This is where spreads take away the pain and suffering <3 all fun and pleasure.
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Data from Chartexchange…
AMC has turned really bullish in sentiment.
Last time I checked this, P/C ratio was nearer 1 overall .
AMC’s price traded sideways today and volatility dropped enough for me.
I added to my strangles.
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Today was fun…
Broad market had influence to most parts of the day.
I didn’t add to my position.
On this current trend with GME, please follow Conq’s thread instead.
Looking to exit on Tuesday/Wednesday next week.
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Today’s range and bullish momentum is bigger than May 27, 2021–AMC’s Big Buy Candle last year…
Keep calm. Mind your positions. Stay green.
May 27, 2021: +35.58%
March 28, 2022: Over +45% before market close.
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Just saying this on record that within 10-15 minutes before market close there were large call sweeps on both AMC and GME.
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Curious to hear about anyones thoughts on today’s movement compared to May 28th’s. Rexxar compared yesterday and the 27th. I am seeing some similarity with the opening pop into fade and then it moves up throughout the day.
Actually, AMC is moving more like June 1, 2021–today.
It skipped a beat, and is more bullish.
Likely because the players are more aware of the consequences, this time around.
NOT a guarantee that this will run tomorrow.
Just answering your question–and mine. Just curious.
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I always appreciate your input Rex!!
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My pleasure, bud.
And uh, it’s rexxxar. Like sexxx? Make mine triple x.
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Lol Abbreviated your username
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Interesting. Curious and excited to see how this all plays out. Love your analysis and takes on a lot of tickers, thanks!
AMC didn’t outright get rejected today…
Which stresses me out since I did want it to get butt kicked down to 22.
It bounced and held over 26.41 today, closing at 29.44.
There are 2 possible price actions tomorrow because of this high consolidation:
a) AMC might consolidate even tighter the entire day, before deciding on a direction (I prefer back down to 20),
b) AMC might decide to open higher than 34.33 leaving a gap that won’t be filled until after a few weeks.
Here’s our bounding box tomorrow…
Median price today is 30.37.
I have a bit of house money to work with, so accumulated 40strike FDs at 1.32 average.
Looking to exit at profit once again tomorrow at open.
I am still very profitable with AMC.
KEEP IT GREEN.
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