Small Account Trader PRO Alert: AMZN adjustment

Amazon has gone on a bit of a tear since we reversed direction. Adjusting it now limits the gamma effects and will allow us to roll it for a smaller debit than waiting until closer to expiration.

TRADE Adjustment
Amazon (AMZN):  89.73

 

TRADE ACTION 1: Buy/BTC the AMZN 20 Jan 83/84 puts and 84/89 broken wing butterfly for a net debit of around 3.57.

BTC the 20 Jan 84 puts
STC the 20 Jan 83 puts
BTC the 20 Jan 84 call
STC the 20 Jan 89 call

The 50K account is trading 5 contracts.

TRADE ACTION 2: Sell/STO the 3 Feb 83/88 puts and the 88/89 call spread broken wing butterfly for a credit of 2.37

STO the 3 Feb 88 put
BTO the 3 Feb 83 put
STO the 3 Feb 88 call
BTO the 3 Feb 89 call

The 50K account is trading 5 contracts.