Are you still here? I'm thinking of buying put options for AMZN before tonight's earnings. The analysts are really down on the stock. I figure I'll follow their opinion this time around. Also, the current AMZN price is near their 1 yr target with relatively high P/E. With internet users becoming more savvy and competition growing, AMZN look like a good short (via put options). Let me know what you think if you read this post.
Keep in mind, the good news is out now. It's going to take more than optimism from analysts to push this up higher than 220. Waiting for 230 could really kill your profits.
I held my 210 calls, but sold 200s this morning at 15.80 to lock in some profits. I may buy them back at 13.80 just for sport, but I'll sell them again -- because I see most of the pressure on GOOG being downward for awhile now.
Not that the company won't keep sailing along, at least until next Q . . . but I'm just trying to be realistic about the number of buyers v. sellers right now.
It's my way of hedging against loss in premium. Given that extra month for the options expiry, I retain a good portion of the extrinsic value. Less gain and less loss, but still much larger percentage move compared to the underlying stock.
I also bought 10 Feb 40 PUTS. I think it will tank big time. But couldn;t buy big time after all the losses with goog though i am still holding Feb 210 Call for goog. Ihope it will recover some of my goog losses.
I also bought some Feb 42.5 Puts and Mar 40 Puts for AMZN. I got crushed with GOOG put options. Try to unload your Feb 210 GOOG calls this week. It'll quickly lose premium as the expiry approaches. Good luck.