Shorted at $ 230-- Need some input ( I had bought Jan 220 puts at 6.55, now at 4.20 in 2 days)
Fiscal Cliff not resolved
Very High probability that there would be taxes on online sales ( which will be a big impact on Amazon)
Last 3 days the volume is low
Its less than 10% lower than all time high
50% gain this year( due to capital gain increase people may want to book profits , what happened with APPLE)
I just need to understand some pointers why this has become suddenly so strong.
because AMZN is the greatest short killer stock ever created in the markets. It's perceived overvaluation is used to allure in shorts while the float is very small with Bezos owning a huge amount to keep it that way. Then bamm!! shorts killed again and again. It's a short killer plain and simple and many rules that other stocks have to live with don't apply to AMZN. I wouldn't get caught up in minute details like sales taxes, hi PE, etc and understand there is more suppport and love for this stock with power awaiting to pounce and kill shorts at every juncture. just look at today as an example.. straight up. Jus one's vewi and opinion who's seen AMZN for years. How do you think it gets to 100's of times earnings and not only holds it, but expands it. It univerally loved and traded as a long vehicle mostly by the quick money.
I am so much stressed out, not just because of this trade, last one year was a hell for me.I am just hoping i just atleast come close to break even on this trade.I wouln't have mind if market rallied last 2 days and so would AMZN, but last 2 days S&P was 4 points up and AMZN 4% up, i am still not able to cope with that and technical level suggest 247 as next stop, which means i am done ( since i own options) :-(((. I am so much stressed out i can't think anything........
Sybs predicts it will drop below 230 on the 4th monday of Jan after your Scam optionz are rendered worthless.... Crack head optiinz traderz make it all worth while for fmr, llc... Its what makes their world go round... Good donation arsholez, keep betting optionz.... Sybs says its so "strong" to wipe idiots like you out so that sybs can make more money from shorting higher prices delivered by the blood of the dead novices and crackhead optionz trader... Thank you in advance.