Michelle Williams opens up about some of her favorite movie moments in The Cagle Exercise

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Michelle Williams is not afraid to make a statement.

The Manchester by the Sea Oscar nominee shared some candid confessions with PEOPLE and Entertainment Weekly Editorial Director Jess Cagle for The Cagle Exercise — including her ideal award show attire.

“A protest t-shirt,” she quickly replied when asked what she would wear to the Oscars if it was socially acceptable.

Williams also said the first movie she can remember watching is the 1985 classic Back to the Future while the movie that makes her laugh hardest is Steve Martin’s Dirty Rotten Scoundrels.

Watch the PEOPLE & EW Red Carpet Live Oscars preshow on Feb. 26 at 5 p.m. ET/2 p.m. PT on the People/Entertainment Weekly Network (PEN). Go to PEOPLE.com/PEN, or download the app on your favorite device. Then watch our Red Carpet Fashion Wrap-Up after the Oscars!

As for her favorite movie snack? She likes to keep it simple.

“Popcorn and peanut M&Ms,” she said.

For more on the women of the Oscars — including an exclusive photo portfolio by Jenny Gage and Tom Betterton — pick up the latest issue of PEOPLE.

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Credit: JENNY GAGE + TOM BETTERTON

But don’t expect her to snack on popcorn while watching Manchester By the Sea. Williams said she “would never watch” one of her own movies.

The Academy Awards — where Manchester by the Sea is nominated for Best Picture — kicks off live on ABC on Sunday, Feb. 26, with a 7 p.m. ET pre-show and 8:30 p.m. ceremony.