Amazon Options Signal Bullish Bias: Key Strikes and Block Trades Point to $235 Call Opportunities

• AMZN trading at $228.43, up 0.74% with volume surging to 28.5M shares
• Options data shows 59,667 open calls at $260 strike vs. 22,541 puts at $220
• Block trade of 830 puts at $240 (Nov 21 expiry) hints at hedging activity
• RSI at 39.4 suggests oversold conditions near 200-day MA of $215.51

Here’s the takeaway: AMZN’s options market is painting a clear picture. With call open interest dominating and technical indicators hinting at a short-term breakout, the stock looks primed for a move above $235—but traders need to watch support levels like $222.25 closely.

Bullish Sentiment in Options and Block Trades

The options chain tells a story of cautious optimism. For Friday’s expiring contracts, the $235 call (AMZN20251226C235) has 47,570 open contracts—the highest among OTM strikes. That’s not just noise; it’s a vote of confidence from institutional players. Meanwhile, the $300 call (AMZN20251226C300) has 51,322 open contracts, showing some long-term bullish positioning despite being far OTM.

But don’t ignore the puts. The $220 put (AMZN20251226P220) has 22,541 open contracts, acting like a safety net for those wary of a pullback. And there’s a curious block trade: 830 puts at $240 (AMZN20251121P240) with $1.35M turnover. That’s not your average retail trader—it’s a hedge fund or whale hedging a short-term position. Combine this with the 500 calls bought at $250 (AMZN20260116C250) for January 2026, and you see a mix of near-term caution and long-term bullishness.

No News, But Technicals Tell the Story

The lack of recent headlines means fundamentals aren’t driving this move. Instead, it’s all about technical levels. The RSI at 39.4 is flirting with oversold territory, and the price is trading just below the 30-day MA ($231.04). Think of it like a rubber band stretched tight—it’s more likely to snap upward than break. The Bollinger Bands show the upper bound at $237.11, which could become a magnet if the short-term bullish trend holds.

Actionable Trade Ideas

For options traders, the AMZN20251226C235 call is a no-brainer. With the stock trading at $228.43, a small move above $235 could trigger explosive gains. If you want a longer play, the AMZN20260116C250 call (bought by a whale in block trade #3) is worth eyeing. For stock traders, consider entering near $228.50 with a target at $237.11 (upper Bollinger Band). Set a stop-loss below $222.25 (30D support level) to protect against a breakdown.

Volatility on the Horizon

The key here is timing. If AMZN breaks above $235 this week, the $237.11 upper band could be next. But watch that put-heavy zone between $220–$222.89—it’s a psychological support area. The MACD histogram (-0.65) is still negative, but the signal line (-1.20) is creeping upward. This could be the setup for a bullish crossover by next week. Either way, the options market has already priced in a directional move—now it’s about execution.

Bottom line: AMZN is at a technical inflection point. The options data leans bullish, but the long-term ranging pattern means volatility could swing either way. Play it smart—use the $235 call as a leveraged bet, but keep a close eye on that support zone. The next few days could be the start of something big—or a false flag. Your call.