Amazon (AMZN) Offering Possible 8.7% Return Over the Next 30 Calendar Days

Amazon's most recent trend suggests a bullish bias. One trading opportunity on Amazon is a Bull Put Spread using a strike $2420.00 short put and a strike $2410.00 long put offers a potential 8.7% return on risk over the next 30 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $2420.00 by expiration. The full premium credit of $0.80 would be kept by the premium seller. The risk of $9.20 would be incurred if the stock dropped below the $2410.00 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Amazon is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Amazon is bullish.

The RSI indicator is at 59.47 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here


LATEST NEWS for Amazon

Amazon Is Said To Be In Talks To Buy Bankrupt J.C. Penney
Tue, 19 May 2020 06:55:05 +0000
Amazon.Com Inc. (AMZN) is said to be interested in snapping up debt-strapped J.C. Penney Co. Inc., (JCP) in a deal that would bolster the online retailer’s apparel business, Women’s Wear Daily reported.Shares in J.C. Penney plunged another 23% to $0.18 before being halted on Monday. The report comes after the U.S. apparel and home retailer on Friday filed for bankruptcy protection proceedings.As part of its “renewal” plan, the Plano-based company said it will to cut its debt, streamline operations, close stores and spin off a real estate division in a move to come back in a stronger position. It has about 850 stores across the U.S. and Puerto Rico.“There is an Amazon team in Plano as we speak,” according to the WWD report. “There is a dialogue and I’m told it has a lot to do with Amazon eager to expand its apparel business.”J.C. Penney has $500 million in cash on hand as of the Chapter 11 filing date, the retailer said in a SEC filing. In addition, the company received commitments for $900 million in financing from its existing first lien lenders, which includes $450 million of new money.“This financing, combined with cash flow generated by the company’s ongoing operations, is expected to be sufficient to meet J.C. Penney’s operational and restructuring needs,” the company said. “As part of the commitment from its existing lenders, J.C. Penney will explore additional opportunities to maximize value, including a third-party sale process.”It looks like Amazon is on a shopping spree as the economic crisis induced by the coronavirus pandemic is creating opportunities for mergers and acquisitions. The world’s largest online retailer has reportedly also held talks to buy debt-strapped theatre operator AMC Entertainment Holdings Inc. (AMC).Wall Street analysts are bearish about J.C. Penney’s stock with 2 Sells and 2 Holds adding up to a Moderate Sell consensus. Should the $0.36 average price target be met, investors could be looking at 98% upside potential in the shares in the coming 12 months. (See J.C. Penney stock analysis on TipRanks).Related News: AMC Pops 11% Amid Potential Acquisition Talks by Amazon Uber’s Latest Takeover Offer Said To be Rejected By GrubHub Apple is Said to Snap Up Startup NextVR For Virtual Reality Content; Top Analyst Sees Buying Opportunity More recent articles from Smarter Analyst: * GameStop Pops 5% Amid ‘Significant Progress’ On Turnaround Plan * Carvana Sinks 7% In Pre-Market On Public Offering Of 5M Shares * Tesla’s China Car Registrations Plummet In April- LMC Auto * Novavax Seeks To Raise $250 Million From Share Sale; Top Analyst Bumps Up PT

Amazon Warehouse Workers In Seattle Area Can Now Have Access To Company's Virtual Medical Clinic
Tue, 19 May 2020 05:35:49 +0000
Amazon Inc. (NASDAQ: AMZN) is extending Amazon Care, a telemedicine pilot that provides free virtual doctor visits, to its warehouse workers in Seattle.What Happened Previously, Amazon Care was available to the e-commerce giant's Seattle-area office workers, but now workers at the company's fulfillment centers can also access the pilot program, reported CNBC.Using an application, Amazon workers can connect to a medical professional and receive video consultations. Follow-up care at home is available for those who need it. The service is available free of cost till May 31 for all health concerns, including COVID-19.An Amazon spokesperson told CNBC, "Amazon Care eliminates travel and wait time, connecting employees and their family members to a doctor, nurse practitioner, or registered nurse through live chat or video, with the option for in-person follow up services from a registered nurse ranging from immunizations to instant strep throat detection."Why It Matters In order to be eligible for Amazon Care, workers must be enrolled in an Amazon-sponsored health insurance plan. Employees enrolled in Kaiser Permanente cannot participate.The extension of the service comes at a time when several warehouse workers have died from COVID-19, reported CNBC.Amazon has not provided data about how many of its workers have tested positive for the viral disease, but an employee who kept tab claims at least six workers have died, and more than 600 have tested positive. Amazon fired Chris Smalls, an employee, who had organized a strike highlighting working conditions amid the ongoing pandemic at one of its New York warehouses in March.Price Action Amazon shares traded 0.12% lower at $2,423.40 in the after-hours session on Monday. The shares had closed the regular session 0.68% higher at $2,426.26.Image Credit: Courtesy of Amazon CareSee more from Benzinga * Trump Taking Hydroxychloroquine, The Drug He Pushed As COVID-19 Remedy * Illinois Will Classify Defying Stay-At-Home Orders As Misdemeanor For Businesses * General Motors Reopening Vital Mexican Plant(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Amazon to Open New Warehouse in New York, Hire 1,000 Workers
Mon, 18 May 2020 21:36:00 +0000
Amazon is opening a new warehouse in Clay, New York, and is described as a state-of-the-art facility that will employ 1,000 full-time workers alongside robots.

Mario Gabelli Adds to Amazon Holding in 1st Quarter
Mon, 18 May 2020 21:27:53 +0000
An overview of the guru's top 5 buys Continue reading…

FedEx Pops On Alliance with Microsoft, In Challenge To Amazon
Mon, 18 May 2020 20:10:26 +0000
Shipping customers will get more data about the progress of packages and things like natural disasters. FedEx stock jumped.

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