Sunday, November 5th, 2017

AMZN freeTrade

AMZN proved to be resilient in this last sell off. Stock never budged. We closed the old positions for a loss and will recoup some of the losses in this month if AMZN stays above 115 till December expiration. AMZN has not closed its gap yet. Instead AMZN formed a promising bull flag and than broke out from the flag formation (which is a bullish sign) and the expectation is the momentum will flow to the upside. How far it will go no one knows.  Here is the chart of AMZN please click to enlarge.

AMZN chart

So how do we trade AMZN here ? There are several ways. But here is the trade that I like   :

Sell 3 AMZN  December Puts= $3.00 or better.Click on the  trade graph below to see the trade.

The current price is 10 points above our strike and technically right under the descending channel. If AMZN stays above 115 by December expiration profits should result. The position has 73 deltas + its equivalent to owning 73 shares of stock.

Amazn trade +

Comments

2 Responses to “AMZN freeTrade”

Trackbacks

Check out what others are saying about this post...
  1. […] This post was mentioned on Twitter by Dan Tanner and Momentum Trading, Gary Maguire. Gary Maguire said: AMZN Decemebr Trade | INDEX & STOCK OPTIONS TRADING-consistent …: Here is a free trade for AMZN. … June.. http://bit.ly/36mG7l […]

  2. […] AMZN FreeTrade […]



Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!

*