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Option Brief: Amazon.com, Inc. (NASDAQ:AMZN) bolted to an all-time high of $406.89 this morning, on news that the number of active Marketplace Sellers jumped more than 65% in 2013 to record-setting levels. Subsequently, today's options players have wasted no time placing bets. At last check, approximately 35,000 contracts had crossed the tape, which represents a 64% mark-up to what is typically seen at this time of day.
While today's speculators show little preference toward puts or calls -- trading on each is about neck and neck -- weekly options have emerged as the most desirable type. To be specific, the top eight 10 most active options of the day belong to the weekly 1/10 series. In other words, the option players are placing last-minute bets on the direction of AMZN shares over the next day and a half. The weekly contracts expire at tomorrow's closing bell.
Since hitting its technical milestone, Amazon.com, Inc. (NASDAQ:AMZN) has erased its earlier gains, and it now sitting 0.4% lower at $400.46. The equity has been flirting with the $400 level since Dec. 20, when it first broke through the significant round-number barrier. Since then, the stock has fluctuated, falling as low as $388.42 on Monday, and climbing as high as $406.89 earlier today (as previously mentioned). Longer-term, AMZN is looking at a year-over-year gain of about 50%.