AMZN huge drop after earnings

[vintner Super Moderator Find all posts View Profile Close vintner]

Amazon reported it's worse quarter and shed 11% off yesterday's closing price. Some of the downgrades are shown:
Amazon share price target cut to $296 from $350 at B. Riley
Amazon share price target cut to $435 from $460 at Pacific Crest
Amazon share price target cut to $365 from $400 at Cantor Fitzgerald
Amazon share price target cut to $370 from $390 at Susquehanna

I have an iron condor on with the expiration today. The top end will be full profit, but my short put is 275. With the stock trading about $280 pre-market, I am worried, but not panicking.
However, I am thinking that probably Monday, it may be worth dipping into the stock. There is still a lot of volatility with this earning season that could bring the stock lower, so if I dip in, it will be small.

But for now, please AMZN, stay over 275 today.

[bigfrank Administrator Find all posts View Profile Close bigfrank]

Now that is a Buy You think it might hit $250 it is at $289 right now..

A safer bet with a Div

F is down , I bought it when it was $2 it had hit $20 and sold off last year. it came close to $20 recently until another selloff. It is down today 60 cents to $13.80. it pays a nice Div

[easyrider Senior Member Find all posts View Profile Close easyrider]

Good Luck !!!

[vintner Super Moderator Find all posts View Profile Close vintner]

Closed it out! The options price dropped enough on the credit spread that I was able to close it out with a nice profit. I like iron condors but trading them on extreme moves give my stomach a little extra churning. In this case, I held this for 2 days and made a nice profit.

I will look at putting some type of bullish spread on this next week. I just want to see how early next week moves the stocks. Who knows, maybe I will go bearish instead. Time will tell.

[easyrider Senior Member Find all posts View Profile Close easyrider]

nice......

[vintner Super Moderator Find all posts View Profile Close vintner]

I did a GMCR earnings trade last week. Nice short term (2 day trade) profit on that. But I also put on a longer put credit spread so as the stock rises, I will collect my profit. I will probably close out at 50% of target and move onto another trade.

My bullish put credit spreads in oil have done well for me too. Making money in oil is like driving for free.

[nicko21tawny Junior Member Find all posts View Profile Close nicko21tawny]

Amazon reported it's worse month and shed 14% off yesterday's closing price.