AMZN has been moving sideways for monthssss! MMs are just banking on premiums, and as we have seen this week it was bought up very quickly when spy was falling, but was also lagging when spy was going up. I'm still extremely bullish on AMZN . And the reason is for a stock to get that much price upgrades, news, deals, revenue, holiday season sales and still not react this means that big money is waiting for one specific thing to happen and they'll pump it to the moon! Might be stock split? BIGC buyout? who knows! But what i'm sure of is that amzn is still growing and the longer the coiling the more explosive the move is! But according to the order flow sweeps and elliot wave , AMZN will rally to 3800ish by dec/jan. What i'd recommend doing is playing multiple spreads instead of calls to avoid theta decay. Play multiple spreads with different exps where one could be for all the others and let theta be on your side. Worst case scenario: AMZN rejects 3400 Best case scenario:3800+ by mid jan
AMZN getting bought out? What are you smoking my guy? Although I agree on you assessment that this is going to the moon.
OBaderr
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@Quantstreetbets, There was rumors or news about amazon buying bigc, its just a possibility. When the news is out its too late
surend007
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hi , thank you for your chart. can you suggest some good spreads ? New to it so just want to make sure i dont do something stupid
OBaderr
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@surend007, I'd suggest having multiple spreads with different expirations. I'm holding 12/18, 12/31, 1/15. Each has the first PT range and the 3rd PT range. My point of doing so is that even if amzn decides to be the snail it is rn. It's most likely going to be over 3500 by 1/15. Which means even if all my other spreads go worthless, my jan one could cover the rest if its above 3500 by jan. So I'm basically trying to maximize my rweard through dif expirations but also have the Jan spread as my safe one. So diversify basically!