Weekly Wiretap Pick Of The Week AMZN

MAX Trade Potential: 113%

My Trade Plan Details:

• AMZN  Feb 7th $230 calls around $4.50 to $5.50 area

• Stop: AMZN closes below $218

• Target 1: $230
  
• Target 2: $235
  
  

My Reasoning:

First off, AMZN is such a rich cash company and I think with their earnings coming not too far from now they will report well and show that nice cash position moving forward. I think this sets up AMZN for a strong move higher although I might be CAUTIOUS on this to start the week, meaning I am looking for a possible dip Monday morning before entry. 

AMZN has recently pushed into new all time highs and I think the momentum will continue there with AMZN maybe gunning for a $250 test soon.