AMC GAMESTOP EMERGENCY ALERT CHEWY $500M BUYBACK!!!!!!!!! IM DOING THIS WITH MY POSITIONS!!!!
Summary
TLDRThe 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.
Outlines
📈 Stock Market Analysis: GameStop and AMC Trading Insights
The video script discusses the significant spike in open interest for GameStop, with a substantial amount of puts being sold and transferred to calls, particularly at the $20 and $5 strike prices expiring the next day. It also touches on Chewy's share repurchase from BC Partners, adding to the existing repurchase program. The speaker emphasizes the importance of monitoring companies owned by Ryan Cohen and hints at a potential increase in AMC's stock price, suggesting that the current decrease in short interest might indicate short sellers exiting their positions. The analysis predicts GameStop's price movements and suggests a strategy for purchasing calls. The speaker also shares their Discord announcement about their own trading position, indicating a wait for a selloff to add more calls, especially in anticipation of AMC's next move.
🚀 Crypto and Tech Company Updates: Coinbase Lawsuit and Market Predictions
The second paragraph delves into Coinbase's lawsuit against the SEC and FDIC, alleging a deliberate effort to pressure banks to deny crypto firms access to the Federal banking system. The speaker commends Coinbase for challenging the SEC and criticizes the regulatory body for not protecting retail investors. The discussion also covers Bitcoin's expected closing price above $61,500 and the potential for a correction in the S&P 500, with support levels identified. Tesla's stock performance is analyzed, with a focus on the need for a full candle open and close above a certain resistance level. The video concludes with news of SpaceX's contract with NASA and Nvidia's potential market reversal, suggesting a weak second push and a possible price retest. The speaker also promotes a Mumu account offer, a custom indicator for trading view, and a Discord server for trading insights.
Mindmap
Keywords
💡Open Interest
💡Call Premiums
💡Put Options
💡Ryan Cohen
💡Share Repurchase
💡Short Interest
💡Fractal
💡Head and Shoulders Pattern
💡SEC Filing
💡Retracement
💡Cup and Handle Pattern
Highlights
GameStop's open interest saw a significant spike with large fluctuations and over $300,000 worth of puts sold and transferred to calls within a single day.
Chewy, another company owned by Ryan Cohen, announced a $500 million share repurchase from BC Partners, adding to the existing repurchase program authorized in May.
AMC's short interest slightly decreased to 14.87%, suggesting a possible exit of some short positions, although the actual short interest is believed to be much higher.
Media outlets are advising to exit GameStop despite its strong financial position with over $4 billion in cash and no debt.
The speaker predicts GameStop's price movements, suggesting a potential retracement before July 2nd as the last chance to purchase.
The speaker shared their position on Discord, waiting for a selloff to add more calls on GameStop and AMC, anticipating significant future movements.
AMC is expected to have a larger price increase than its previous high, potentially reaching at least $17.50, based on the analysis of market cycles.
Coinbase has sued the SEC and FDIC over alleged efforts to pressure banks to deny crypto firms access to the Federal banking system.
The SEC's case against Atlas Trading Group was dismissed without prejudice, raising questions about the SEC's targeting of specific entities.
Bitcoin is expected to close the week above $61,500, with the potential to break above $63,000 if the current momentum holds.
A warning of a possible market correction, with the S&P 500 potentially dropping to the bottom of the Fibonacci levels between 495 and 489.
Tesla's price action is closely watched for a full candle open and close above $197.15 to confirm a bullish trend.
Elon Musk's SpaceX has won an $850 million contract from NASA to build the D orbit vehicle for the International Space Station.
Nvidia shows signs of weakness and a potential reversal with a head and shoulders pattern, suggesting a possible price drop to around $94.
The speaker promotes a Mumu account with an offer of up to 15 free stocks and 88.1% API on uninvested cash.
A custom indicator is offered to enhance trading view charts and improve the trading journey.
Invitation to join a Discord server for trading alerts, stock and crypto discussions, and a community focused on financial freedom.
Transcripts
now by the time we get into the charts
for AMC as well as Gamestop I'm going to
explain to you what I did with my
positioning that I explained to Discord
earlier this morning first of all before
we get into the charts GameStop open
interest had a nasty Spike and you can
see that call premiums basically went
vertical there were large increases and
decreases in open interest and over
$300,000 today alone worth of puts have
been sold off and transferred to calls
in fact GameStop got flooded with almost
$800,000 worth of calls majorities being
at 20 and $5 strikes that expire
tomorrow which is odd as well but some
of this premium could be roaring Kitty
purchasing more call contracts as well
now we also have chewy another company
owned by Ryan Cohen just doing a
repurchase of shares from BC Partners
chewy announces $500 million repurchase
of shares from BC Partners in a new SEC
filing last night they agreed to
repurchase
17,550 th000 shares at
$284 this is in addition to the existing
500 million share repurchase program
which was authorized on May 24th I told
you to keep an eye on the other
companies owned by Ryan Cohen and I said
it would not be a bad idea to allocate
some cash to those companies not
Financial advice I'm not a financial
adviser we saw a little bit of a
decrease in AMC's short interest coming
down to 14.87% according to ortex we pay
attention to it for the trend and the
trend shows that maybe some shorts
started to get out but again we still
think the short interest is much much
much higher than that now these article
writers don't don't give up a comeback
does not appear to be in the cars for
GameStop they say to exit GameStop
before it's too late even though
GameStop has over 4 billion in cash and
no debt and an active CEO they also say
GameStop is becoming a poorly run bank
and destroying the economy a brick and
mortar company that is holding 4 billion
in cash is somehow just ruining the
economy okay now it's time to get into
the charts but if you haven't yet make
sure to like the video and subscribe to
the channel GameStop is trading at $
25.81% on the day every single thing
that we have said has come out to
fruition and I'm going to tell you
exactly what GameStop is about to do
this is exactly what you're seeing
happen in the cycle right now as we
speak and this could end here and
trickle its way back down to around 2350
to potentially 2275 or this could come
anywhere between $28 and $29 before
trickling down to between 25 and $23
same sort of setup either way at any
point before July 2nd GameStop is going
to finish its retracement and I think
that is what's about to happen and at
that point that is the very last time to
purchase now again this could happen
before July 2nd because the cycles and
some parts of the cycle are shrunk okay
so I just want to put that out there
what I did in Discord what I said
announced my position is I'm waiting for
this selloff right here right we made a
little bit of a gain on the recent calls
that we entered on GameStop I'm waiting
for this little trickle down to add more
more calls because I know what's coming
next on AMC as well as Gamestop but
especially AMC and I'm going to explain
why in a second but overall everything
is playing out to a te for GameStop and
with that being said if the Cycles were
to specifically last the same amount of
time as the previous cycle which is not
likely it seems as if th this cycle this
time around is shrunk and shorter which
means the moves are going to happen
earlier and sooner and faster but
hypothetically if that wasn't the case
you'd want to grab at least least July
26 expiration to give yourself enough
time because GameStop's top would be
between July 12th and July 16th
somewhere in that zone if the Cycles
were not shrunk as well as AMC's
wouldn't even begin its run until July
17th okay AMC has to play out this
format right here still with that being
said AMC's trading at $4.70 up 43% on
the day was up more now it is getting a
selloff this right here is exactly what
you're playing out in the cycle as of
right now
on AMC okay this is exactly what you're
seeing here with that being said AMC
about to trickle down at a much shorter
degree than GameStop and then start this
spring action to the upside now I just
want to point that out there this is why
I'm excited for AMC especially because
after this is done right when AMC
finishes out this fractal it's going to
have a much larger move than it did back
here as Gamestop is previously right
based on previous Cycles going to cap
out at the recent high that we hit
around 60 bucks that doesn't have to be
the case especially since roaring kitty
is back but AMC is already likely to
pass this high right around 13 bucks and
come up to at least 1750 which is a
price taret that I called out and I
still think that is the likely scenario
on AMC make sure to share this video
when it's done now coinbase sued us
Regulators SEC and FDIC alleging a in
quotes deliberate and concentrated
effort to pressure Banks to deny crypto
firms access to Federal banking system
finally someone coming at the SEC so
shout out to coinbase we saw the SEC
wrongfully put blame on Atlas Trading
Group for the in quotes pump of torch
stock ticker symbol trch their case was
dismissed without prejudice now why put
the blame on the former CEOs when you
originally put the blame on Atlas we
talked about this recently in a video
but it seems like the SEC is trying to
distract and protect hedge funds they're
not protecting retail investors and
companies that are trying to make a
change in the world the SEC blames the
200% increase in a single week on two
people what about HKD when their stock
increase 19,000 in under a month or the
hundreds of companies that hedge funds
manipulate every day making stocks and
companies lose all of their value fall
99% in half to bankrupt and D list
finally people are shedding light on
what the SEC is doing these corrupt
regulators and speaking of coinbase
suing the let's jump into Bitcoin I said
this week is likely to close above
61,500 that is what what is happening
we're at
61,7 if this holds right which it is
likely to hold for the week we called
out this channel we said these top Wicks
are what pushes us back in and it looks
much better on the weekly time frame but
as of right now I just want to show you
how close we're fighting this channel on
The Daily we want to see Bitcoin break
above and really best case scenario
break above 63,000 and hold above that
right that's best case scenario for the
end of the week for Bitcoin just keep an
eye on it now people are calling out
crashes on Twitter it's not anything new
but the reason I'm bringing this up is
because the Spy has been pumping for a
while now and I just want to warn you if
we do have a correction where are we
going to go this is where we're going to
come down to all the way at the bottom
of the FIB anywhere between 495 on the
spy and
489 okay 495 and 489 all the way down
here on the S&P 500 and if that is
something that we're about to see it is
likely that you see it before the
election okay which means you'd see
something like this into the election
and then around election time you know
the Spy rally back up not necessarily
exactly like I just drew out but you get
what I'm saying here so just take this
with a grain of salt the Spy is still
holding its strength right here but the
momentum the volume isn't as good as we
want it to be Tesla just like we said we
need a full candle open and close above
19715 we said the other day where did we
get rejected basically right at this
level that we have drawn out at
resistance and now we are fighting that
so watch for a decision on Tesla as
always keep an eye on what the chart is
telling you this looks like you could be
forming a cup and handle meaning you
come back down to 187 and build that
handle before moving higher and smashing
that resistance level okay so just keep
an eye on that speaking of Tesla Elon
Musk SpaceX has just won a $850 million
contract from NASA to build the D orbit
vehicle for The Intern National Space
Station and lastly Nvidia Nvidia finally
is showing weakness not only is it
showing weakness but it's showing an
ugly head and shoulders pattern here
showing that this could potentially be a
top for NVIDIA and we could see a
reversal back to the downside coming to
retest 111 coming back up likely to
around 115 and then smashing lower all
the way back down to about
$94 this is something just to keep an
eye on for NVIDIA but again this push
was much weaker the second time around
than any other push that Nvidia usually
has overall guys that is what I got for
you for today's video hopefully enjoyed
watching more found value out of the
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I'm in there on the daily with the most
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over all that is it I love you all let
me know your thoughts in the comments
Down Below on AMC and GameStop and the
positions that I will be taking Lottery
socks out
[Music]
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