In the middle of the day, Jon Najarian only spoke of call buying. Did I listen to him? No, I bought puts. Is he correct re: the target price of 150? Maybe he is. Maybe AMZN will dip to 150 and rebound. Maybe AMZN will sink slowly to 150 and keep sinking? Maybe AMZN will be in the 160's and then rebound into the 170's in February, and then go down to 150 (or higher or lower). In other words, he could be right and he could be wrong.
I agree. The x-mas quarter is the strongest of the year and is now behind us. The results from that quarter were disappointing relative to the price of the stock, that's the issue going forward. P/E just too high right now, who would buy here at these prices? Distribution has been going on the past couple of weeks by big money and I think a lot of amzn has been distributed. Who would have been buying above 150 anyway, nobody really except HFTs pushing momentum and their out at the end of each day leaving bagholders in their wake.