Bearish Amazon Option Trader Bets $2M The Stock Won't Hold $3,100

Amazon.com, Inc. (NASDAQ: AMZN) shares are up another 74.9% in the past year, but at least one larger option trader is betting its recent rally may come to an end soon.The Amazon Trade: On Wednesday morning, Benzinga Pro subscribers received an option alert related to an unusually large Amazon trade.At 11:28 a.m., a trader bought 407 Amazon put options with a $3,100 strike price expiring on August 21 near the ask price at $50.011. The trade represented a more than $2.03 million bearish bet.Why It’s Important: Even traders who stick exclusively to stocks often monitor option market activity closely for …read more

Source:: Yahoo Finance

      

Did you enjoy this article? Join our FREE Newsletter!
I agree to have my personal information transfered to MailChimp ( more information )
Join over 100,000 investors and business leaders worldwide. Get the latest actionable business and investing intelligence before the rest of the crowd.
We hate spam. Your email address will not be sold or shared with anyone else.