AMZN Options Signal Bullish Bias: 235 Call OI Surpasses 230 Puts as AI-Driven Growth Looms

• AMZN trades at $232.08, down 0.19% with volume at 10.7M shares
• Call open interest dominates at $235–$240 strikes; put OI clusters at $230–$220
• Jim Cramer and analysts highlight AWS/AI catalysts; ETFs hold 200+ funds

Here’s the thing: AMZN’s options market is whispering bullish—really bullish. Call open interest at the $235 and $237.50 strikes dwarfs put activity at $230, while technicals hint at a potential breakout. But let’s unpack why this matters for your portfolio today.

Bullish Sentiment in the Striking Zones

AMZN’s options chain tells a clear story: traders are betting on a near-term rally. The $235 call (AMZN20260109C235) has 8,205 open contracts for next Friday’s expiry, nearly double the $230 put (AMZN20260109P230) at 3,135. This 2.6x call/put skew suggests institutional players are hedging for a push above the 30D support/resistance zone of $232.35–$232.69.

Don’t ignore the block trades either. A 500-lot buy of the AMZN20260116C250 call (expiring Jan 16) added $480K in liquidity—right as a separate 830-lot put block (AMZN20251121P240) suggests some hedging ahead of earnings. It’s a classic “buy the rumor, sell the news” setup.

News That Could Fuel the Fire

Jim Cramer’s latest pitch isn’t just noise. He’s spot-on about AWS’s AI-driven reacceleration—Amazon’s cloud division already accounts for 14% of revenue, and 2026’s $125B AI investment could turbocharge that. But here’s the catch: Bernie Sanders’ “robot tax” rhetoric adds regulatory fog. While ETFs won’t ditch AMZN anytime soon, a 30%+ tax on automation could pressure margins if it gains traction.

Trade Ideas for 2026’s First Week

1. Call Play: Buy AMZN20260109C235 if price breaks above $232.35. Target: $235 (500–700 basis points). Exit if it fails to hold above $230.73 (intraday low).
2. Bear Put Spread: Sell AMZN20260109P230 against a long AMZN20260109P225 if price dips below $228.95 (middle Bollinger Band). Caps risk while riding potential volatility.
3. Stock Entry: Consider buying AMZN near $232.35 if it holds above 200D support ($221.06). First target: $237.50 (RSI 58.68 suggests room to run).

Volatility on the Horizon

Amazon isn’t just a stock—it’s a bellwether for AI’s economic impact. With AWS growth projections and ETFs anchoring demand, the 2026 narrative tilts bullish… but Sanders’ policy risks could create sharp pullbacks. Keep an eye on the 200D MA ($216.68) as a critical floor. If AMZN holds there, the $250+ dream is still alive.

Bottom line: This isn’t a “buy and forget” trade. But if you’re positioned for a 4–6% pop in early 2026, AMZN’s options and fundamentals align—if you play it with tight stops. The market’s already pricing in 32x earnings; AWS’s AI monetization could make that look conservative.