ACTIONS:
Buy to open the AMZN November 360 calls (AMZN141122C00360000, $2.10, up $0.80).
Buy to open the AMZN November 260 puts (AMZN141122P00260000, $1.95, down $0.60).
Dear Weekly Wrap Subscriber,
I have a New Trade for the Weekly Wrap that I am trying to get into on this morning’s open. Please read the trade instructions carefully, and be sure to use limit orders to get the best fills.
Amazon.com (AMZN, $315.33, up $9.12)
Buy to open the AMZN November 360 calls (AMZN141122C00360000, $2.10, up $0.80).
Action: Use Limit Orders up to $2.25-$2.50 on this morning’s open if shares open higher. If the calls open below $2, buy them there, as we should get filled for $2 or lower.
Buy to open the AMZN November 260 puts (AMZN141122P00260000, $1.95, down $0.60).
Action: Use Limit Orders up to $2.25 on the puts if shares open lower. If the stock opens higher, we should get filled for $2-$1.75 or lower.
I will try to provide an update shortly after the open and will have a more detailed update later in the day. However, I want to try to get into this trade before Wall Street and the hedge fund managers start doing their math homework this morning.
All prices given in this update are current as of 9:00 a.m. EST.
Every new Weekly Wrap recommendation is listed with the price at which I entered my own position. If the price is slightly different than my recommended entry or exit price when you receive the alert, don’t let that keep you from getting into or out of a trade. Occasionally, you might even get a better “fill” price than what is posted in the Open Trades and Closed Trades.
Trade on!
Rick Rouse
Editor and Chief Options Strategist
Weekly Wrap