Amazon Options Flow as Prime Day Launches | Options Corner
$Amazon(AMZN.US$ options climbed in volume as investors awaited the results of the mid-year sale Prime Day. Prime Day is over two days this year, July 16 and 17, and investors are watching for options that expire at the end of the week.
In 2023, Amazon's prime day sales grew sales 6.7% to $12.9 billion worldwide. In the U.S., e-commerce sales grew 6.1% during the same period, according to Digital Commerce 360's 2023 Global Online Marketplaces Report.
Two options contracts expiring Friday stood out for their outsized open interest: $200 call. Traders swapped the contract 85,000 times, and the contract saw an open interest of 125,000. It gives holders the right to buy Amazon for $200 at a current asking price of 40c a share for 100 shares. The contract has seen heavy volatility for the eight months the contract has traded.
It most recently jumped nearly 300% in the last two weeks of June before falling 84%.
Another contract expiring Friday that stood out was the $185 put, facing 28k in open interest with just 3,000 contracts changing hands. The contract gives holders the right to sell the underlying for $185/share for 100 shares at a current price of 26C.
Amazon currently trades at $192/share, up just 0.10%, and has an options call put ratio of 82:18. According to moomoo, traders have swapped $5B in Amazon stock, with 1.5B flowing in, and $1.6B flowing out Wednesday.
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Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
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