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What the Bulls and Bears Are Buying Ahead of Amazon Earnings

by | Oct 25, 2023

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Earnings, earnings, earnings!

We have Meta Platforms… otherwise known as Facebook… reporting after the close Wednesday, Apple coming up…

This is going on for another big week after this, and that’s what the market is moving on right now. 

The S&P 500 (SPY) is super weak Wednesday, and Microsoft’s move was below expectations. 

While trading earnings comes with plenty of risk, there’s also more than enough potential rewards, especially when there’s a surprise or a squeeze higher. 

Amazon, which reports after the close Thursday, got smacked in the face Wednesday, down over 5% around lunch time on the East Coast…

When a call buyer stepped in with just over $100K in premium for the weekly $129 calls… Not even 15 minutes later, a bear stepped in to pick up about $189K worth of the weekly $113 puts. 

We also saw some November monthly $49 puts in PayPal, with shares trading just over $51, down over 5% on the day, ahead of its Nov. 1 earnings report. 

Be sure to respect the risk of the rollercoaster that is earnings season!

Wednesday’s Top Order Flow: 

  • AMZN Oct23 27th Strike: 113 Puts premium: $188,595 ASK BEARISH
  • Trade Date: October 25, 2023 Trade Time: 12:56 pm
  • AMZN Oct23 27th Strike: 129 Calls premium: $101,000 ASK BULLISH 
  • Trade Date: October 25, 2023 Trade Time: 12:45 pm
  • PYPL Nov23 Strike: 49 Puts premium: $100,891 ASK BEARISH 
  • Trade Date: October 25, 2023 Trade Time: 12:01 pm

Note: If no date is listed after the month, it’s the monthly expiration (third Friday). 

Lance doesn’t want the CCP spying on him, so you’ll never find him on TikTok. Same goes for other social media sites, which are filled with impersonators and scammers. 

You can only find him on his personal YouTube Channel — smash that Subscribe button! https://www.youtube.com/@LanceIppolito 

And in his private Telegram channel: https://t.me/+-gVwEIwGJhplMTgx 

*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. 

P.S. Spice Up This Crap Market With Overnight Options 

Yeah, I get it… The market kind of sucks right now…

In the last week, it’s been really hard to trade…

Leaving some traders disgruntled, frustrated and even disheartened…

But hang in there… 

Jack Carter and I have something for you… something based on a certain type of options trade…

And in particular, one that’s known to often pay out overnight…

Now, I know that sounds silly considering most people are not bullish right now…

But we’re hosting a free session Friday where we’ll show you how to trade something called an “overnight option.”

And we expect this to happen a lot in November.

If you want to check it out…

Just Register Here

WRITTEN BY<br>Lance Ippolito

Lance Ippolito

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