Put Options on AMCX on 5/22/2023

AMC Networks Inc. (AMCX) owns and operates a suite of video entertainment products that are delivered to audiences and a platform to distributors and advertisers in the United States and internationally. 

The company operates through Domestic Operations, and International and Other.

The Domestic Operations segment operates various national programming networks, including the AMC, WE tv, BBC AMERICA, IFC, and SundanceTV; provides subscription streaming services comprising Acorn TV, Shudder, Sundance Now, ALLBLK, and HIDIVE, as well as AMC+ and other streaming initiatives; and engages in film distribution business under the IFC Films name. This segment also produces and licenses original programming for various programming networks, as well as services the national programming networks. 

Shares have fallen below a major support level and are expected to contiue their decline.

Last Trade: $13.38

Trading Rage: $13.37 - $41.42

Trade Buy 1 June $15.00 Put at $1.60 For a net debit of $1.60 Profit/Loss Analysis Breakeven at $13.40 Maximum profit is unbounded Maximum loss is ($160.00) at strike of $15.00 Closing Summary Sold 1 June $15.00 Put at $4.00

Position closed on 6/7/2023 at price of $4.00 with a 150.00% gain in 15 days.

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