July 18, 2022
Intraday Update: AMZN
A strong open on AMZN has boosted the prices of short-term calls, and the action area of the proposed Aug05 $115 - $120 call spread has been above the initiation level all morning. There is still potential for a run, though following the nearly 2% move this morning, the risk is also higher for a pullback. We will move forward with a bullish trade here, but the new strategy will be a lower debit one and you should approach it as more speculative. The new trade will be:
- Long AMZN Aug05 $116 - $120 call spread.
Trader Author Portfolio Holdings
**As of the date and time of publication