AMZN Earnings Play

Quote from DuyLe:

buy amzn. its not dipping below 88.
its going to recover to around 93-95
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The big fire going on in CA will hit AMZN, Ebay , AAPL,... hard. Big chunk of their customers are there.
 
My feeling on AMZN is that basically the big investors are done playing with AMZN and want to get out for at least till the next Q but they want to keep the excitement high among the small investors and show it as a hot buy now so that they can unload their shares. I see another $15 torture drop in the next 2 weeks.
 
My option Play,

I am thinking of buying Dec 75 PUT and then later selling Dec 70 PUT to reduce the cost and make a spread.
Max profit would be $5 - (Dec 75 - Dec 70)
If I can sell Dec 70 Put at the same price of Dec 75, my cost would be zero.
 
Quote from pumpanddumper:

10/23/2007 04:59:43 Sold Short 1000 AMZN @ 100.49

$100,490
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I'm covering for a 15k profit.

Just kidding. I pussied out on this trade. If I had gigantic balls I would have done it.
 
If it hits $82, I will short another 1200 shares. I am short 3600 shares now.

Even at $65 the stock would have 100% gain in a year and still expensive.
 
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