2017 was obviously a horrible year for movies (and theater operators), but 2018 has a much more robust calendar that is likely to result in a much more robust financial result for AMC and other theater operators.
Given that AMC's heavy capex should wane starting late in 2019 and into 2020 as they complete theater seating upgrades, FCF should rise substantially, making recent low equity market cap levels look cheap.
I wouldn't put it past Mr. Market to engineer another pullback in the stock before an attack on that neckline, but I would view that as a last opportunity to get your positions in order. For me that means closing out the covered call position that I have against 50% of my position at the $15.5 and $16 strikes, and repositioning them at the $19 and $20 level after the first move up. Selling covered calls on this name, combined with the health near 5% dividend yield has helped bring down the basis in my position to under $13 from the initial position which resulted from being exercised on the August 2016 $15 and $16 puts.