Hi Shoppers,

I am getting ready to go long in Amazon (Ticker: AMZN).

Here is the pitchfork going back to March:

Yesterday, AMZN traded down to the convergence of that major support level and that mini uptrend line is providing some pretty good support.

Looking more closely, AMZN was able to close above a significant support/resistance level (which actually goes back to late 2018) at $99-$101:

Yesterday’s candle looks like a hammer, also.

If AMZN open and trades higher for at least an hour, I will be looking at the 102/112 or the 103/113 call vertical, depending on how high the stock trades:

Next week’s calls have a nice skew in the out-of-the-money calls.

I like to buy the at-the-money calls and sell the out-of-the-money calls for a high implied volatility.

The 102 calls have an implied volatility of 40.54 and the 112’s IV is 43.30.

This provides edge in your trade.

A 10-point call vertical priced under $2.50-$2.60 is generally a good price.

Remember to let the stock trade for a while after the opening before hopping in.

Trade Review

Intel (Ticker: INTC) has not traded over $30.50 – yet.

So no trade was made.

I am still watching it.

Thanks for Reading … See You Next Tuesday,

Licia Leslie