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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 220.66

+1.6%

Nov 21 9:30 AM EST

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To: umbro who wrote (11899)	7/28/1998 4:58:00 PM
From: umbro	Read Replies (1) of 164684

AMZN options report for 07/28/98 AMZN price: 118.938 Options Forecast for: AUG put price: 107.58 OI = 16021 VOL = 1251 call price: 129.91 OI = 15558 VOL = 1637 consensus: 120.14 R = 1.0 R = 0.8 Options Forecast for: SEP put price: 101.72 OI = 1435 VOL = 169 call price: 142.46 OI = 885 VOL = 189 consensus: 115.99 R = 1.6 R = 0.9 Options Forecast for: OCT put price: 95.55 OI = 4327 VOL = 120 call price: 135.55 OI = 8257 VOL = 66 consensus: 125.89 R = 0.5 R = 1.8 Options Forecast for: JAN put price: 89.97 OI = 2699 VOL = 40 call price: 144.63 OI = 2953 VOL = 48 consensus: 121.64 R = 0.9 R = 0.8 net long/short: 0.32 mil. i.v. for AUG = 0.882 i.v. for SEP = 0.947 i.v. for OCT = 0.940 i.v. for JAN = 0.808 The trading volume in the August options was fairly light, and there was some pick up in the Oct. options. The trading vol. in Oct. options was noticeably bearish with a pick up in the put/call ratio, but not an extreme level. The implied vols. increased in the Sept. and Oct. options, and decreased in the Jan's. Looks like the bearish traders have moved their time horizon out a little past Aug. I'd call today a consolidation day even though there was downward bias. AMZN was pretty strong until it gave in late in the day, probably affected by the overall market. I'd look to be a buyer above 123 and a seller below 115, on the assumption that The Beast breaks out of its normal pattern of range trading during the day. There wasn't enough intraday volatility to trigger the scalp trades that I mentioned yesterday. Neither the 115p's or the 130c's hit the limits that I mentioned yesterday.

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