Jan, thanks for posting the otions info.
As far as trying to use the data to determine AMZN's direction
based upon options volume, or open interest, I'm not too sure.
For example, if I'm bearish on AMZN, but see that option prices
are high, I might try to sell the 120c's and buy the 130's. This
will look to be very bullish, but the position is in fact
bearish. Still, about the only assumption we can make is call
activity is on the whole bullish, and puts are bearish.
I didn't see any particular "bulge" of call activity at 130 and
above, indicating speculation in calls, or a bullish viewpoint
(I'm looking at volume). However, there were a fair number of
Aug 90 puts bought, so if anything, that's where I'd say the
speculators are hanging out. Could also just be worrited bulls
who are looking to protect their winnings in the event of a
steep sell-off.
What I place more weight on, is the implied volatility, and
I notice that the call implieds are fairly low, and in fact
overall implied vols. are dropping - all this looks bullish
(or at least neutral) to me. If options vols. were ramping
up, then I'd think that more traders are hedging and worried
about the downside. |
