/b buying $AMZN 210 weekly puts at .51-.58 OVERSIZED initial entry into a new swing bearish play on AMZN. $AMZN has held up well after its last earnings but with the market losing its footing again with the $SPY bellow 134.70 area resistance area, and markets losing the 100 day moving average . If the market has bearish follow trough then the possibility of a big fall all the way to the earnings gap cover of 195 is very possible. The way I see it AMZN unlike others has not fallen and is uniquely placed for a big retracement if it was to lose its footing so could serve as a hedge on any bullish bets made this week. as I send this SPY has moved up as we expected so looking for entries here on $AAPL 535 puts swell here using the intraday bounce as a bearish opportunity.
