Amazon (AMZN) announced as a catalyst to the upside they'd be eliminating a non-profitable acquisition from 7 years ago. This gave the bulls a run due to the massive cash flows dumped back into acquiring and expansion of the company, and shows a shift in focus to producing hard earnings numbers down the road. This likely will drive price further up into the earnings announcement due to speculation of further growth in the company in the long run.
Granted, from a long term perspective, AMZN is one of our least favorite companies fundamentally due to the huge overvaluation it currently poses to earnings, but from a short term perspective, it's great for a short term Skip-strike butterfly or spread trade.
Granted, from a long term perspective, AMZN is one of our least favorite companies fundamentally due to the huge overvaluation it currently poses to earnings, but from a short term perspective, it's great for a short term Skip-strike butterfly or spread trade.
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Trade closed passed our profit trap for a nice sizeable gain
