The beauty of this game is that everything is fluid.
Calls with the strike price, $385 went from 80 cents to $1.60 in about 10 minutes starting at 9:55 a.m. EST. (AMZN moved from $382.50 to $344.96 during this time.)
This is a fact.
Because I know this, I think shorts here are stupid. They make bets expecting huge drops which may or may not come. They are just gambling (and they're not disciplined so they don't know when to retreat). I'm after consistency of making small profits many times.
She moves $2 either way. Several time a day.
You can make small profits often or you get wiped out pretty easily.
Hahaha . . .
So far, my net result for today is negative. I made two small profits on two trades but took a bigger loss on just one trade.
Let's see if I can trade one more time today.
Bought calls with a different strike price when AMZN was near $380.
Made money on them, but the previous set is a gonner.
Liquidated them all.
Took a loss I can live with.
. . . she won't test $386.83 today.
I made a little profit on the bounce we had about 40 minutes ago and my trading software stopped responding.
Thank god that I don't have any exposure to the market now.
The whole market may crash today, huh? They control the Internet, too, you know. They let you get in, but they will prevent you from cashing out.
A very dangerous day to trade.
I'll just watch for a while.
Many shorts are still comfortable shorting her or buying puts.
What you want to do should depends on what you are after.
I'm happy with making small profits, so I'll keep buying calls on minor dips.
Tomorrow may turn out to be yet another exciting days.
Premiums on options will disappear tomorrow so a move of a couple of points can double, triple, quadruple your money. Hooah!
I try not to care about fundamentals at all. I don't watch TV or read newspapers.
This stock is rigged to its core.
There's no point in paying attention to Amazon's fundamentals.
I actually think the management of Amazon is totally clueless.
Now that everyone is getting interested in this stock (shorts and longs), lots of people will lose money.
This will start acting (seemingly) random now.
You gamble, you lose.
Bwahahahaha . . . .