Thread by @OT__University

$AMZN Thread:

Broke out of a multi-month triangle Tuesday. We took Jul-03-25 215c at 2.57 and now their $865 each per contract...

Volume spike confirmed the move.

$AMZN just broke out of a multi-month symmetrical triangle with a powerful +2.85% move to $223.30 on elevated volume. The breakout came with a close well above the $220 pivot and outside the upper Bollinger Band on the daily,

This type of price action often precedes short-term exhaustion or a consolidation pause.
Love it when structure, volume, and timing align. Posted this live as we bought 'em.

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Despite the momentum, the daily MACD shows bearish divergence, a signal that the rally may be running hot. This is especially notable given that the stock finished the session extended above all major moving averages.

On the options side, 7/11 calls saw a monster surge in open interest at the 220C strike (+8,134 contracts), suggesting aggressive bullish bets.

Meanwhile, the 215 puts added 1,866 in open interest, likely a hedge in case of a pullback.

If AMZN holds above 220 on low-volume consolidation or gap-fill retest, the next upside magnet is the $230 level, followed by the descending trendline retest near $246 from the February highs.

This aligns with measured move projections from the triangle breakout. Calls above 225 are in high demand, particularly the 230C (which traded 6,777 contracts today).

Healthy Pullback: If price pulls back to $215–$217.50 (area of rising trendline support and 20-day SMA), that could offer a high-R/R reentry for bulls.

A break below $212.50, however, may invalidate the short-term setup and trigger a flush toward $204.

Options Data provided by @Barchart
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