After a long, sideways consolidation, Amazon is approaching the limit of this wedge. An earlier trend line forms resistance above at around 3700.
Play this with April/May expiration options. Open a long $3200/$3400 strangle expiring in May and sell a $3700 strike call expiring in April. The long $3400 call + the short $3700 call itself constitutes a poor man's covered call.
Play this with April/May expiration options. Open a long $3200/$3400 strangle expiring in May and sell a $3700 strike call expiring in April. The long $3400 call + the short $3700 call itself constitutes a poor man's covered call.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.