AMZN Options Signal $235 Bull Call Rumble: How to Ride the 2026 Upside Wave

• AMZN trades at $227.93, up 0.26% from open, with Bollinger Bands hinting at a potential breakout above $228.52
• Put/Call OI ratio at 0.72 shows calls dominate, especially at $235 and $240 strikes
• Analysts project 30% upside to $295.80, backed by Zacks Rank #2 and AWS AI chip momentum

Here’s the thing: AMZN’s options market is screaming bullish—but only if you know where to look. The call-heavy open interest at $235 and $240, combined with a recent block trade of 500 AMZN20260116C250 calls, suggests big players are prepping for a 2026 rally. Let’s break down why this could be your best setup ahead of the holidays.

Bull Call Rumble: Why $235–$240 Strikes Are the New Battleground

The options chain is a goldmine of sentiment. Right now, AMZN20260102C240 (next Friday’s $240 call) and AMZN20251226C235 (this Friday’s $235 call) dominate open interest. That’s not random—it’s a sign of positioning. Traders are betting Amazon will punch through $235 first, then test $240 as a psychological hurdle.

But here’s the twist: the RSI at 39.27 and MACD histogram (-0.36) hint at short-term exhaustion. If AMZN dips below $222.25 (30D support), that could trigger a test of the $219.93 Bollinger Band floor. However, the block trade of 500 AMZN20260116C250 calls at $960 strike price (yes, that’s a typo—should be $250) suggests deep-pocketed players are hedging for a big move.

Amazon Now: Why Analysts Are Wrong (But the Options Market Isn’t)

The news flow is all bullish: 50 “Strong Buy” ratings, a 30% price target, and Amazon Now’s instant delivery push. But here’s the catch—price targets often lag reality. The options market isn’t waiting for 2026; it’s pricing in AWS AI chip momentum now.

Take the Zacks Rank #2 rating seriously. Amazon’s Trainium3 chips are already outperforming competitors in cost/efficiency, and AWS’s 20% growth rate isn’t just numbers—it’s a tailwind. The $227.93 price is stuck between the 200D MA ($215.64) and 30D MA ($230.52). A breakout above $230.52 would validate the bullish case.

Trade Setup: How to Play the $235–$240 WindowFor Options Traders:

• Aggressive Play: Buy AMZN20260102C235 (next Friday’s $235 call). If AMZN closes above $235, this could double in value.
• Conservative Spread: Sell the AMZN20260102C240 against a long AMZN20260102C235 to capture a $5-wide spread. AMZN needs to stay above $235 for this to work.

For Stock Traders:

• Entry: Consider buying AMZN near $228.52 (today’s high) if it holds above $222.25 support.
• Targets: First aim for $235 (breakout level), then $240 (psychological hurdle).
• Stop: Below $221.06 (200D support) invalidates the setup.

Volatility on the Horizon: What to Watch Before 2026

The key is timing. If AMZN fails to break $235 by next Friday, the AMZN20260102C235 calls will expire worthless, shifting focus to the AMZN20260116C250 block trade. That’s when the real action starts.

Bottom line: The options market isn’t just bullish—it’s positioned for a $250+ move. But don’t chase. Wait for a pullback to $228.52 or a confirmed breakout above $235. Either way, the next 10 days will tell us if Amazon’s 2026 rally is real—or just a December mirage.