AMC Entertainment (AMC) was back in the spotlight again as the meme stock jumped over 35% in one day last week, says Jay Soloff of Investors Alley.
Pushed by Reddit users, AMC skyrocketed from a low of around $18 to a high of nearly $30 before closing at 26.52 last week and is now climbing once more. Over three million options traded in a day, 6x the average daily options volume.
This time around, it looks like institutions may have been involved in the options trading, although retail investors were likely the biggest source. While 62% of the activity was on the call side, there were quite a few large put purchases as well.
Learn more about Jay Soloff at Investors Alley.
