Last week my Bullseye trade of the week was AMC. I was ashamed at myself for trading this dog meat stock, but you know what? I liked the setup, and it worked!
Personally, I hate the company. I hate the fundamentals, I think it is way overvalued, it’s a dying business, and I think it should be trading much lower. A lot of short-sellers think the same way, and I think they’re right. But none of that matters when the technicals line up the other way!
Here’s what happened To the Options I suggested:
Now Let’s compare that to the move in AMC Stock:
Whilst AMC moved just over 11% higher, the options I suggested moved over 75% high in just 2 days
That’s the power of trading options!
Every Monday morning, I send out my best trade idea for the week before the market opens to Bullseye subscribers. After analyzing the market the week before and running through charts over the weekend, this is my favorite and most primo setup for the week.
I believe that if you can manage one single trade a week and do it well, you can filter out all of the noise happening with the market overall.
There’s a lot of thought that goes into the Bullseye trade of the week. I’m looking to find good trade ideas that are outliers in the market.
Here was my reasoning for the Bullseye Pick, which was sent to subscribers Monday, July 11 in the morning:
AMC – AMC Entertainment Holdings Inc.
My whole reason for going with AMC this week revolves around a slowly building uptrends that has been in place for over a month.
This is a massive squeeze opportunity where we could see the stock shoot higher, at least for a short amount of time.
If I am wrong, I will place my stop if AMC closes under $12, which is below the recent low in the trend.
On the upside, I think AMC could briefly hit $17+ in the coming days.
Good luck this week!
My Trade Details:
- Buy AMC Jul 22 2022 15 Call near $1.00
- Stop : $12
- Target : $17
That was the Trade Idea, and here’s what happened to those Options:
A 75% move in just 2 days!
Now compare that to the move in AMC stock:
Whilst AMC moved just over 11% higher, the options I targeted moved over 75% high in just 2 days
I didn’t catch the whole move, but I got a decent piece. Here was how I traded it:
36% percent in 2 days isn’t bad, so I took those gains! The options moved as much as 75%.
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