Holiday sitrep as I see it. All IMO, of course.
1. NYSE is closed for holiday but Euro market was open. AMC traded in euro's (22.90-25.93; C24.90) so conversion to dollars shows it was trading at $28.01-$31.71 with a close of $30.45. Change from previous day= +11.86%. Not bad start to week.
2. Last week HFs liquidated positions elsewhere to have liquidity on hand to fend off margin calls (note-at the prices back then, it's gone up since). As PPS goes up liquidity requirements increase as well as the bleed...
3. Anything not used by SLD margin can be used to "try" and attack price, but HF's risk having even more shares removed from reach in market which just increases the impact of squeeze later. ie. HFs might shake paper hands, but the competition (diamond hands) are scooping up more shares that HF wants, creating a net loss so positions can't be closed out at the lower levels. Creates the situation of the first HF to cover has the minimum of pain and last one either bleeds out or is the bankrupt bag holder.
4. Last week's ITM options can hit starting Tuesday for a small Gamma. (side note- with T+3 does holiday count or is it Thurs for this week?)
5. Boxofficemojo showing this weekend May 28-30 having a gross of $80,179,879 gross putting it in the top 10 grossing weekends and a change/week of 356%. Note-Does NOT include 31 May which is ongoing but is currently showing $98,531,543.
6. Long weekend has allowed for ALOT more dissemination and PR to spread on all social platforms including, but not limited to, Here (Ihub), Reddit, Youtube, Person to Person networking, FB, Twitter, Instagram, Stocktwits, etc. Anticipate backlog of new buyers wanting to be part of the movement. Large increase in sentiment to hold accountable those that aren't playing by fair, equitable, transparent, level-playing-field rules or that lack integrity in self-reporting requirements.
7. Lots more eyes are watching the mechanics and inner workings of the market/players. SEC complaints are high and increasing. Any confirming news of foul play such as strategic manipulations, confirmation that naked shorting was allowed beyond minimal "market making", and/or naked shorts in any excess beyond reported transparent numbers (such as exceeding O/S), would be major catalyst and a figurative powder keg to address publicly.
8. HFs may try and close short positions by purchasing naked shorts that had been released "into the wild" just so the HF show a closed position on the books, but the unwinding of any excessive naked short shares left in the pool would require the recall and removal of shares which will require the coordination of the DTC. It's anticipated that excesses will be revealed by share audit(s) and/or voting tally's.
9. Shareholder date of record snapshot scheduled for 2 Jun (Wednesday) which should tell AMC leadership A) How many shareholders there are, and B) How many shares are being held by them. Those numbers can be released any time afterwards with or without coordination with the SEC as desired.
10. Anticipated interview with AMC CEO for sometime "the first week of June" according to Trey Trades channel.
Anyone else care to add anything else relevant or correct? TIA
