Very Bearish rated Amazon has earnings after the bell on 4/24. It's trading up near a former support level, which will often act as new resistance. For speculative earnings trades, we favor risk-defined option spreads, especially those that offer the trader an advantage in implied volatility skew. With that, along with the predictive power of Chaikin Analytics Power Gauge, we feel that we really have the wind at our back. The market maker anticipates that the stock will move $22 once earnings are announced. We're making our bet to the downside. Here is the trade: BUY +2 CALENDAR AMZN 100 JUN 14/MAY1 14 320 PUT @4.66 LMT [TO OPEN/TO OPEN]
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