Good day Insiders,
As I have mentioned in the previous update I sent out today (AAPL), Amazon (AZMN) is also showing us an interesting tale with regards to price action. In all honesty, I was wanting to get long AMZN yesterday, as that is when I noticed the opportunity, but now we seem to have confirmation. Let’s take advantage of this market which is in a very strong bullish mode and the Nasdaq leading the way.
AMZN is currently trading at 1912, we are giving ourselves over 100 points of room to the downside in selling the 1800-1795 put spread.
Risk & Reward
Our trade will use $8,460 in margin and just as with Apple, we will most likely adjust if necessary as earnings are set to report next Tuesday the 30th.