Amazon Attracts Bullish Bets From Options Traders Ahead Of Earnings
Portfolio Pulse from Lisa Levin
Amazon.com, Inc. (NASDAQ:AMZN) is expected to report quarterly earnings on Aug. 3, 2023. Ahead of this, options traders have made bullish bets on Amazon, with 23,000 of the August 4 weekly 140-calls bought at an average price of $1.04 per contract. Wall Street expects Amazon to post quarterly earnings at 34 cents per share on revenue of $131.54 billion.
August 04, 2023 | 1:20 pm
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Bullish bets from options traders suggest a positive sentiment towards Amazon's stock ahead of its earnings report. Wall Street's expectations of strong earnings could also boost the stock.
The purchase of 23,000 of the August 4 weekly 140-calls indicates that traders expect Amazon's stock to rise. This, coupled with Wall Street's expectations of strong earnings, could have a positive impact on the stock in the short term.
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