For context: $APE is the newly issued set of preferred shares by AMC Entertainment Holdings, Inc. APE technically stands for AMC Preferred Equity units, and they are preferred shares which confer the exact same voting rights and dividend payouts as normal common stock. Furthermore, AMC has specifically stated that the long-term goal of $APE is to eventually convert these into common $AMC stocks once shareholders approve the issuance of more common stock.

Therefore, one can view $APE as, essentially, a 2-1 stock split of $AMC, meaning that any price difference between the two is completely irrational. Despite this, the spread between $AMC and $APE prices was $2.76 at market close on August 25th (a 29% discount for $APE compared to $AMC).

Thus, the market will resolve as YES if the absolute value of the price difference between $APE and $AMC, as according to Yahoo Finance, is LESS THAN $2.76 at 4pm ET on August 26th. Market resolves as NO otherwise. Trading on this market CLOSES at 3pm ET.