Amazon stock is at a good price for entry at 3277 and am expecting this stock to start gaining momentum in efforts to retest all time high at 3546. This is an 8% move and will be using stock options to magnify returns. With vega options being high priced in this stock, I will be using a vertical spread in buying April 19th strikes at 3275 and sell call at 3400. Looking for profits to exceed 30%.
Technical info: RSI at 51 which is neither over bought or oversold (typically this is a good nuetral zone to buy)
SPX500 VIX is trending lower which means the whole market is about to go FOMO and stocks go up. With amazon not doing much the past 100 days, this a good idea for catchup to the market.