AMZN Trade Idea (updated)
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
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
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