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Eleventh-Hour Option Bears Target, Inc. (AMZN), Inc. is poised to notch its second consecutive weekly loss

by 6/20/2014 11:32 AM
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Option Brief: Despite unveiling a new 3-D smartphone and comedy pilot this week,, Inc. (NASDAQ:AMZN) is on pace to notch a second consecutive weekly loss. Against this backdrop, put volume is trading at nearly three times the intraday average this morning. Short-term contracts are in high demand, per the stock's 30-day at-the-money implied volatility, which has jumped 7.7% to 27.9%.

Receiving notable attention is AMZN's June 325 put, which is apparently being bought to open for a volume-weighted average price (VWAP) of $2.35. With AMZN down 1.5% at $322.00, these puts have not only moved into the money, but have surpassed their at-expiration breakeven mark of $322.65 (strike less VWAP). Gains will accrue with each step below here (on a move down to zero), Inc. (NASDAQ:AMZN) settles at tonight's close, when front-month options expire. Conversely, losses are limited to 100% of the premium paid, should the stock stage an eleventh-hour rebound, and finish north of the strike at session's end.


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