AMC GAMESTOP EMERGENCY ALERT CHEWY $500M BUYBACK!!!!!!!!! IM DOING THIS WITH MY POSITIONS!!!!

Summary

The video discusses stock market movements, focusing on GameStop and AMC's trading patterns and investor strategies. It highlights GameStop's spike in open interest and call premiums, with a significant shift from puts to calls. The host also covers Chewy's share repurchase, AMC's short interest decrease, and potential market cycles. Bitcoin's price prediction and Tesla's resistance level are examined, along with a critique of the SEC's actions. The video concludes with investment tips and a call to join the host's Discord server for trading insights.

Takeaways

• 📈 GameStop's open interest saw a significant spike with large fluctuations, and over $300,000 worth of puts were sold off, shifting to calls, especially with an influx of almost $800,000 in calls with strikes at $20 and $5 expiring the next day.
• 📊 Call premiums for GameStop went vertical, indicating a substantial market movement and potential investor interest in call options.
• 🛍️ Chewy, another company owned by Ryan Cohen, announced a $500 million share repurchase from BC Partners, adding to an existing repurchase program initiated in May.
• 📉 AMC's short interest slightly decreased to 14.87%, suggesting that some short positions might be closing, but the speaker believes the actual short interest to be much higher.
• 🏦 Critics argue that GameStop, despite having over $4 billion in cash and no debt, is a poorly run company; the speaker finds this criticism unfounded.
• 📊 The speaker predicts that GameStop's stock price may experience a retracement before July 2nd, suggesting it as a potential buying opportunity.
• 📈 The speaker's strategy involves waiting for a selloff in GameStop to add more call options, anticipating a significant price increase based on market cycles.
• 📉 For AMC, the speaker expects a short-term price decline followed by a strong upward movement, with the stock potentially surpassing previous highs and reaching at least $17.50.
• 🚀 Coinbase is suing the SEC and FDIC, alleging a concerted effort to pressure banks to deny crypto firms access to the Federal banking system.
• 📊 Bitcoin is expected to close the week above $61,500, with the speaker suggesting a break above $63,000 as the best-case scenario.
• 📉 The S&P 500 could potentially see a correction, with support levels around 495 and 489, hinting at a possible pre-election downturn followed by a rally.

Q & A

What significant change in GameStop's open interest was mentioned in the transcript?

The open interest in GameStop had a spike with large increases and decreases, and over $300,000 worth of puts were sold off and transferred to calls.

What was the unusual activity in GameStop's options market?

There was an unusual activity with almost $800,000 worth of calls being purchased, mainly at the $20 and $5 strikes that expire the next day.

What recent development did Chewy, a company owned by Ryan Cohen, announce?

Chewy announced a $500 million share repurchase from BC Partners, in addition to the existing 500 million share repurchase program authorized on May 24th.

What was the change in AMC's short interest according to Ortex?

A decrease in AMC's short interest to 14.87% was reported by Ortex, suggesting that some short sellers may have started to exit their positions.

What is the current trading price of GameStop mentioned in the transcript?

GameStop is trading at $25.81, which is an increase on the day.

What is the predicted price range for GameStop before its potential retracement according to the video?

The predicted price range for GameStop before its retracement is between $28 and $29, before it trickles down to between $25 and $23.

What is the current trading price of AMC mentioned in the video?

AMC is trading at $4.70, which represents a 43% increase on the day.

What is the potential future price target for AMC mentioned in the transcript?

The potential future price target for AMC is between $13 and $17.50, based on previous cycles and current market analysis.

What recent legal action has Coinbase taken against the SEC and FDIC?

Coinbase has sued the SEC and FDIC alleging a deliberate and concentrated effort to pressure banks to deny crypto firms access to the Federal banking system.

What is the significance of the head and shoulders pattern observed in Nvidia's stock?

The head and shoulders pattern in Nvidia's stock suggests potential weakness and a possible reversal to the downside, with a retest of around $94.

What is the current status of the lawsuit involving Atlas Trading Group and the SEC?

The case against Atlas Trading Group was dismissed without prejudice, indicating that the SEC may have wrongly blamed them for the pump of Torch stock.