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