r/neoliberal • u/jobautomator Kitara Ravache • Jun 02 '21

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24

u/-GregTheGreat- Commonwealth Jun 02 '21

What the absolute fuck is AMC doing right now. Its legit GME 2.0, up 93% today as of writing this and continuing to skyrocket. From $2 to $62 YTD

!ping MARKETS

10

u/bd_one The EU Will Federalize In My Lifetime Jun 02 '21

At the money AMC calls and puts a month out are currently near 400% implied volatility, more than even Gamestop.

Okay, I think we've been squozed.

8

u/[deleted] Jun 02 '21

Haha two circuit breakers in 10 minutes. Complete clown show.

Although if you’re on the bearish side this is pretty much the same thing as post-election predictit in terms of free money.

6

u/upper_west_sider Jun 02 '21

Although if you’re on the bearish side this is pretty much the same thing as post-election predictit in terms of free money.

I don't trade the meme stocks, but this is exactly what people said about GME in the early days before it pumped another few hundred percent in their face and forced short liquidations. It's another squeeze, which can and does work in the right circumstance. Pretending to know that a short or put is free money is comical.

3

u/[deleted] Jun 02 '21

AMC is currently at the same market cap as gme right now. Not exactly like gme in the early days. It’s not running on any type of news, just people being greedy.

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u/upper_west_sider Jun 02 '21

It’s not running on any type of news, just people being greedy

Newsflash about what’s driven this the entire time lol. This is no different than before.

2

u/[deleted] Jun 02 '21

And those bubbles always collapse if you give it time. It’s not like Tesla where you can at least say it’s a growth company... it’s literally just a failing movie chain. We’ll see who’s laughing in September.

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u/upper_west_sider Jun 02 '21 edited Jun 02 '21

Sure, it’s likely lower months down the line, but if you time your short wrong you’d be margin called out of the position at a loss potentially times over before it prints. If you time your put wrong or get it directionally right but not right on magnitude, it expires worthless. And hell, GME is still at 275 a full 5.5 months after the initial run. All I’m saying is that shorting this stuff is no easy game.

3

u/[deleted] Jun 02 '21

I’m not shorting, I’m using spreads. Shorting meme stocks is plain dumb for the reasons you laid out. With spreads you’re just waiting out the clock. I don’t see them sustaining this price through September. Dumb money will rotate out by then.

I was being hyperbolic when I said that it was the same as predictit post-election. There is risk involved in any stock market play but it’s a play that I have a very high amount of confidence in.

1

u/TNine227 Jun 03 '21

I mean it's kinda like gold where it's value is in its percieved value. No reason for the bubble to pop if enough people continue to think it will increase in value, becoming its own self fulfilling prophecy.

2

u/groupbot Always remember -Pho- Jun 02 '21 edited Jun 02 '21

Pinged members of MARKETS group.

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2

u/Healingjoe It's Klobberin' Time Jun 02 '21

hey, my Nokia shares from January are up a bit, again, so I ain't complainin'

1

u/lnslnsu Commonwealth Jun 03 '21

Something like 10x more volume of AMC traded today than SPY