Sold to Open 10 AMZN (Amazon) Jan 20 $835/$860 Vertical Call Spread @ $.80 ($800 Credit)
Amazon is having a bullish day so I’m asking .80 vs the current ask of .75 for the spread. I should get filled if it ticks up a bit higher, but if it’s within reason, I will drop my price near market close to ensure I get filled.
This is similar to my recent order, but a week further out. Global markets aren’t showing as much strength today and a day or two of slowness could be all I need to get this filled for a 50% profit.
Okay, no holiday weekends, no short trading weeks, now is when we’re going to see if this optimism will hold and volatility will remain low. The bets have been put in and in a few short weeks earnings announcements will be coming out so we’ll see how much staying power the optimist investors have. I’m speculating a reversal once we hit new highs, specifically around a DOW 20,000 level.
The biggest market is still RUSL (Russia) and there is a lot more to talk about. Big resistance level tests, Keltner Top reversals and more in this week’s ETFs to Watch!
Sold to Open $835/$850 Jan 13 Vertical Call Spread @ $.72 ($720 Credit)
Sell AMZN Jan 13 $835 Call
Buy AMZN Jan 13 $850 Call
Amazon is nearing a Keltner Top on 4 up days in a row. The DOW is about to hit $20k, and my guestimates are we are going to see a drop once these record highs are hit. $835 is a substantial distance away and I should be able to reclaim 50% return on this with one or two down days next week.