Some Wall Street traders are betting against another AMC rally
Al Jazeera
Some institutional investors have ramped up complex options trades that let them bet that AMC’s shares will fall.
Some Wall Street traders are betting against another massive rally in AMC Entertainment Holdings Inc and other “meme” stocks this week through a type of wager in the options market that would limit their losses should retail investors behind the run-up prove them wrong. A Reuters analysis of options data and interviews with market participants, including a Wall Street banker and a fund manager with $30bn in assets, show that some institutional investors have ramped up complex options trades that let them bet the shares will fall. The so-called “bear put spread,” a common bearish options strategy, also limits profits.
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