AMZN Options Signal Bullish Bias: Calls at $235–$300 Dominate as AWS Momentum Builds

• AMZN trades at $228.56, up 0.8% with volume surging to 32.8M shares.
• Call open interest spikes at $235 (47,570 contracts) and $300 (51,322), while puts cluster at $220 (22,541).
• Block trades hint at big money moves: 830 puts at $240 (Nov 21 expiry) and 500 calls at $250 (Jan 16 expiry).

Here’s the takeaway: AMZN’s options market is screaming bullish—but with a twist. The call/put open interest ratio sits at 0.68, meaning traders are heavily skewed toward buying calls. Combine that with a short-term bullish Kline pattern and AWS-driven news, and you’ve got a stock primed for a breakout… or a sharp correction if sentiment shifts. Let’s break it down.

Bullish Calls at $235–$300 vs. Defensive Puts at $220

The options chain tells a clear story: traders are betting on a rally. The $235 call (AMZN20251219C235) has 47,570 open contracts this Friday, while the $300 call (AMZN20251219C300) leads with 51,322. That’s not just noise—it’s a vote of confidence. But don’t ignore the puts. The $220 put (AMZN20251219P220) has 22,541 open contracts, suggesting some hedging against a drop below key support.

Block trades add intrigue. A massive 830 puts at $240 (AMZN20251121P240) and 500 calls at $250 (AMZN20260116C250) signal big players are positioning for both volatility and upside. Think of it like a chess game: they’re buying insurance (puts) while staking claims on a rally.

AWS Momentum and Analyst Hype Fuel the Fire

Jim Cramer’s recent "It’s About AWS" pitch isn’t just hot air. Amazon’s cloud division is a cash cow, and Guggenheim’s $300 price target (up from current levels) shows why. Thrive Wealth’s 11.2% stake increase in Q3—amid $180B in revenue—adds institutional credibility. But here’s the catch: insiders sold $19M worth of shares recently. That’s a red flag for some, but others see it as profit-taking in a strong stock.

The key question: Will AWS growth translate to share price? The options market assumes yes. But if earnings miss or AI hype cools, those $220 puts could become a lifeline.

Actionable Trades: Calls for the Bold, Stock for the Patient

For options traders, the AMZN20251226C235 (next Friday’s $235 call) is a prime play. With 18,106 open contracts and AMZN trading near $228.56, a break above the 30D MA ($231.04) could trigger a rush. Target $240–$250, where Bollinger Bands and RSI (currently at 39.4) suggest oversold conditions might reverse.

Stock buyers should eye $225–$227 as a key entry zone. That’s where the 30D support (222.25–222.89) and 200D MA (215.51) converge. A close above $231.04 (30D MA) would validate the bullish case, with $245–$250 as profit targets. Stop-loss below $220 (the put-heavy zone) would protect against a breakdown.

Volatility on the Horizon

AMZN isn’t just a stock—it’s a barometer for tech’s AI ambitions. With AWS growth estimates at 24% for Q1 2026 and hedge funds bullish, the next 2–3 weeks could be pivotal. The options data suggests a race to $250+… but don’t sleep on the $220 puts. They’re not just a safety net—they’re a warning sign. Stay nimble, and let the data guide your bets.