Amazon Receives Bullish Options Bets Ahead Of Earnings

Shares of Amazon.com, Inc. AMZN are making big moves ahead of the company’s latest quarterly earnings report, scheduled to be released Thursday.

On CNBC's "Options Action," Brian Stutland of Equity Armor Investments said the stock traded at 2.5 times its average daily puts volume on Wednesday. This implies a move of 8.6%, he mentioned.

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There was a seller of 60,000 of the February 90 calls who also bought 75,000 of the June 95 calls at a total price of $31.7 million, Stutland mentioned. The trader expects the shares of Amazon.com to move by at least 15% by June expiration, he added.

AMZN Price Action: Shares of Amazon had risen by 1.96% to close at $105.15 on Wednesday.

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