Amazon Attracts Bullish Bets From Options Traders Ahead Of Earnings

Amazon.com, Inc. AMZN is expected to report quarterly earnings after the closing bell on Aug. 3, 2023.

On CNBC’s "Options Action,"  Kris Sidial of The Ambrus Group said there were bullish bets on Amazon.

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There were buyers of 23,000 of the Aug. 4 weekly 140-calls at an average price of $1.04 per contract, Sidial mentioned.

Traders expect Amazon’s stock moving higher through Friday’s close.

Wall Street expects Amazon.com to post quarterly earnings at 34 cents per share on revenue of $131.54 billion after the closing bell.

Price Action: Amazon shares fell 2.6% to close at $128.21 on Wednesday, and lost 0.1% in today’s pre-market trading session.

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