Amazon Gears Up For Earnings Release As Markets Turn Bearish

Amazon.com, Inc. AMZN is scheduled to report earnings on Thursday after the bell.

On CNBC's "Options Action," Brian Stutland of Equity Armor Investments said the Amazon’s trade on Wednesday implied a move of 7.9%, which is much lower than the average 12.7% in the last eight quarters.

Check out other stocks making moves in the premarket.

There was a seller of 2,000 of the March 2023, 80 put spreads at an average price of $2.11 per contract, Stutland mentioned. The trader expects Amazon’s stock to remain above $80 by March expiration, he stated.

Amazon’s stock is “super discretionary,” and you get a combination of communication services and software as a service, Stutland mentioned.

“If you want to play that to the upside, I like buying a call instead,” he added.

AMZN Price Action: Shares of Amazon.com declined by 4.1% to settle at $115.66 on Wednesday.

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