Can Beyoncé Push AMC Stock Into Renaissance?

The movie theater name will distribute Beyoncé’s “Renaissance World Tour”

AMC Entertainment Holdings Inc (NYSE:AMC) shares are down 0.6% to trade at $7.95 at last check, despite earlier revealing it will distribute Beyoncé’s “Renaissance World Tour” across the globe. The move could help the movie theater chain operator fill content gaps amid the Writers Guild of America (WGA) strike that’s delaying Hollywood productions.

The equity is in dire need of a renaissance of its own. AMC is dangerously close to penny stock territory, as well as its Sept. 11, all-time low of $7.05. Carrying a hefty 77.4% year-to-date deficit, the shares need more stamina in order to conquer pressure at their 30-day moving average.

As far as options traders are concerned, everything the stock owns is in a box to the left. This is per AMC’s 50-day put/call volume ratio of 1.04 back at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) that ranks in the 86th percentile of annual readings.  

For those who can see AMC Entertainment stock’s halo, now looks like good time to bet on its next move with options. This is per its Schaeffer’s Volatility Index (SVI) of 99% that sits in the 12th percentile of its annual range, meaning options traders are pricing in low volatility expectations at the moment. 

 

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