Shared by
thefudawg
Bought 1 butterfly for AMZN 3250/3300/3350 April 16. MM expected move of 120 from $3220, I think $3300 is a good target. Risking $698 for $4.3K here. Bought 3 butterflies for AMZN 3350/3400/3450 at $3.35. Risking $1005 for $13,995 here.
On April 23 - MM are pricing in 153 pts from $3225 which is $3378. April 16 - MM pricing in 120 pts from $3226 or $3346 price target but I like the psychological target of $3300.
D squeeze breaking toward upside and momentum is moving for tech stocks going into April. Early In/Out Pro going off and we could be seeing a nice momentum shift here.
AMZN pre-earnings 21 days average is 7.1% or $224.34 which takes the closing price of $3226 to $3450 on earnings. We've already entered the 21-day timeframe, but have now traded above the 50 MA. Will add more on a pullback since it already ran 2% today.
10X bars have just started firing green for a strong momentum. Earnings on April 29.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-04-05 15:27:41 | 23 APR 21 3350 CALL | buy | $22.620 | long |
| 2021-04-05 15:27:41 | 23 APR 21 3400 CALL | sell | $14.150 | short |
| 2021-04-05 15:27:41 | 23 APR 21 3450 CALL | buy | $9.030 | long |
| 2021-04-05 15:29:35 | 16 APR 21 3250 CALL | buy | $39.810 | long |
| 2021-04-05 15:29:35 | 16 APR 21 3300 CALL | sell | $22.630 | short |
| 2021-04-05 15:29:35 | 16 APR 21 3350 CALL | buy | $12.430 | long |
| 2021-04-06 09:35:37 | 16 APR 21 3250 CALL | sell | $44.090 | 0 |
| 2021-04-06 09:35:37 | 16 APR 21 3300 CALL | buy | $25.610 | 0 |
| 2021-04-06 09:35:37 | 16 APR 21 3350 CALL | sell | $14.300 | 0 |
| 2021-04-06 09:35:46 | 23 APR 21 3350 CALL | sell | $24.600 | 0 |
| 2021-04-06 09:35:46 | 23 APR 21 3400 CALL | buy | $15.900 | 0 |
| 2021-04-06 09:35:46 | 23 APR 21 3450 CALL | sell | $10.750 | 0 |
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