Optimism Runs High Amid New Amazon.com, Inc. (AMZN) Plans

Amazon.com, Inc.'s (AMZN) newest initiative may make grocery shopping a little easier

Jul 27, 2015 at 10:30 AM

AMZN

E-commerce king Amazon.com, Inc. (NASDAQ:AMZN) is reportedly developing drive-through grocery stores. The project, which sources say will initially be deployed in Silicon Valley, will allow customers to order online and schedule a pick-up time.

On the charts, AMZN has been a major mover, soaring 74% in 2015 to trade a hair below $540. Today, the stock is getting a 2% lift from price-target hikes at Goldman Sachs (to $650 from $570) and UBS (to $650 from $550). Last Friday, the shares gapped up on earnings to a record peak of $580.57.

Call buyers are banking on the upward momentum to continue. Amazon.com, Inc. (NASDAQ:AMZN) has racked up a 10-day call/put volume ratio of 1.28 across the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). That ratio ranks near the top quartile of all readings taken in the past year.

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