AMZN sideways trading and 6 Legged Options Trade!
Updated
AMZN will likely keep chopping sideways, as the trend is bullish with strong support, but it could get easily overbought if it goes higher, so we should use a positive theta trade to trade this environment.
Here's the trade:
Short: 3000 calls aug. 21 2020 exp.
Long: 3100 calls aug. 21 2020 exp.
Short: 2550 puts aug. 21 2020 exp.
Long: 2600 puts aug. 21 2020 exp.
Short: 2600 puts Jun. 26 2020 exp.
Long: 2550 puts Jun. 26 2020 exp.
If you want to know why we're using this trade and what our backup plan is along with a technical analysis, I'll link it below.
Here's the trade:
Short: 3000 calls aug. 21 2020 exp.
Long: 3100 calls aug. 21 2020 exp.
Short: 2550 puts aug. 21 2020 exp.
Long: 2600 puts aug. 21 2020 exp.
Short: 2600 puts Jun. 26 2020 exp.
Long: 2550 puts Jun. 26 2020 exp.
If you want to know why we're using this trade and what our backup plan is along with a technical analysis, I'll link it below.
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