I'm looking to drop some of my amc but trying to break even or even profit if possible. I have 100 @ $29, 100 @ $40, 600 @ $50-55 (OUCH). I'm not in a rush to sell the 600 high cost shares and will just use them to sell OTM covered calls. I'm want to try high risk moves with the $29 and $40 shares I have. I'm fine if they get called away since I would at least break even. I was going to try to sell weekly $31 calls, but then of course the price tanked so the premiums dropped like a rock. IMO, AMC will tank to $19-20 before Jan 21 to keep most options OTM. But I don't know how to use this to my advantage. Yes I can buy puts, but it's honestly kinda late for that as they're too expensive now since stock is already at $22. It's pointless to sell covered calls (@ $30) now cause the premium is so little. I'm still new to this and at a loss on what to do with this until Jan 21. My prediction is $19-20 for Jan 21, then 25-30 for Jan 28th, then sit at 30-34 for most of feb.
What are some ways to milk the most $ of this situation? I only have a couple hundred cash to use. Everything else is in stocks or options atm.
Submitted January 06, 2022 at 07:31AM by Bostonnicke https://ift.tt/3G6kZdl
