Amazon Options Traders Bet On Stock Trading Above This Level By June Expiration

Amazon.com, Inc. AMZN is set to release quarterly earnings after the closing bell Thursday. The company is expected to earn 21 cents per share on revenue of $124.53 billion for the latest quarter.

On CNBC’s "Options Action," Kevin Kelly, Kelly Intelligence CEO, said there were 1.15x more calls than puts on Amazon on Wednesday.

There is an implied move of +/-8.18% in the stock into earnings.

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There was a buyer of 8,000 of the June 115-calls at an average price of $2.70 per contract, Kelly mentioned.

The trader expects Amazon’s stock trading above $115 by June expiration.
Amazon.com started laying off staff in its cloud and PXT (People eXperience and Technology) divisions. Amazon Web Services CEO Adam Selipsky and human resources head Beth Galetti sent memos about job cuts to employees on Wednesday, according to CNBC.

AMZN Price Action: Amazon’s shares rose 2.4% to close at $104.98 on Wednesday, and added around 2.2% in Thursday's premarket trading session.

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