AMZN Options Signal Bullish Bias: Calls at $235–$300 Dominate as AWS Hype Fuels Short-Term Upside

• AMZN trades at $226.81, up 0.02% with volume surging to 20.2M shares.
• Call open interest crushes puts (3.04M vs. 2.07M), with heavy bets at $235, $230, and $300 strikes.
• Block trades hint at institutional positioning: 830 puts at $240 (Nov 21 exp) and 500 calls at $250 (Jan 16 exp).
• Analysts like Jim Cramer and Guggenheim are bullish on AWS-driven growth, targeting $300+.

The options market isn’t whispering—it’s shouting. With call open interest 43% higher than puts and heavy concentration above $230, AMZN is primed for a short-term pop. But here’s the catch: the $227.58 Bollinger Band midpoint is a fragile floor. Let’s break it down.Bullish Sentiment Locked in OTM Calls, Whale Moves Signal Conviction

If you’ve been watching AMZN’s options chain this week, you’ve noticed the call/put imbalance isn’t just a blip—it’s a stampede. The $235 strike (AMZN20251226C235) has 18,106 open contracts for next Friday, while the $300 call (AMZN20251219C300) sits at 51,322 open interest this Friday alone. That’s not retail noise; it’s institutional money betting on a post-earnings pop or AWS-driven rally.

But don’t ignore the puts. The $220 strike (AMZN20251226P220) has 22,541 open puts, suggesting some hedging below current levels. The real drama? Block trades. A 500-lot AMZN20260116C250 call bought for $960K signals long-term bullishness, while a 830-lot AMZN20251121P240 put (expiring Nov 21) hints at near-term downside protection. The message? Bulls are stacking up, but they’re not ignoring risk.

AWS Hype and Analyst Upgrades Fuel the Fire

Amazon’s stock isn’t just moving on options chatter. Guggenheim’s $300 price target and BMO’s 24% AWS growth forecast are fuel for the fire. Jim Cramer’s "It’s About AWS" thesis isn’t just hot air—AWS now accounts for 15% of Amazon’s revenue and is the backbone of its AI infrastructure. With a $2.4 trillion AI market forecast by 2032, AMZN’s Trainium chips and cloud dominance position it as a key player.

But here’s the rub: insider sales (CEO Herrington dumped 2,500 shares) and a 39.4 RSI (below overbought 70) suggest the rally isn’t all sunshine. The stock’s 2.5% gain Thursday was on 48M shares—a volume spike that could mean profit-taking if the $227.58 Bollinger Band breaks.

Trade Ideas: Calls for Short-Term Gains, Stock Buy-Dips at Key Levels

For options traders, the AMZN20251226C235 call (next Friday’s $235 strike) is a high-conviction play. With 18,106 open contracts and AMZN trading at $226.81, this strike is just 3% out of the money. If AWS news or earnings beats push the stock above $235, the reward-to-risk ratio tilts sharply in your favor.

Want a safer bet? Consider the AMZN20251226C2275 call (next Friday’s $227.5 strike). With 12,433 open contracts and AMZN hovering near the 200D MA ($215.51), a breakout above the $227.58 Bollinger Band midpoint could trigger a rally toward $235–$240.

For stock players, entry near $222.25–$222.89 (30D support) offers a low-risk setup. If AMZN holds above $222.89, target $235–$240. But watch the $218.06 lower Bollinger Band—a break below that would invalidate the bullish case.

Volatility on the Horizon: Positioning for AMZN’s AI-Driven Momentum

Amazon isn’t just a stock—it’s a bellwether for AI’s next phase. With AWS growth estimates climbing and options data screaming bullishness, the next 7–14 days could be pivotal. The key is balancing aggression (calls at $235) with caution (dips at $222.25). As the RSI inches toward 40 and the MACD histogram (-0.65) hints at momentum waning, timing is everything. This isn’t a "buy and forget" trade—it’s a calculated bet on a company building its future in the cloud.