Amazon options traders bet on stock trading above this level by June expiry

Amazon.com, Inc. AMZN is expected to release quarterly results after the closing bell on Thursday. The company is expected to earn 21 cents per share on revenue of $124.53 billion for the last quarter.

On CNBC's "Options Action," Kevin Kelly, CEO of Kelly Intelligence, said Wednesday that there were 1.15 times more calls than sales on Amazon.

There is an implied movement of +/-8.18% from the stock to earnings.

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There was a buyer of 8,000 calls as of June 115 at an average price of $2.70 per contract, Kelly mentioned.

Trader expects Amazon shares to trade above $115 by June expiry. Amazon.com has begun laying off staff in its cloud and PXT (People eXperience and Technology) divisions. Amazon Web Services CEO Adam Selipsky and human resources manager Beth Galetti sent notes about the job cuts to employees on Wednesday, according to CNBC.

AMZN Price Action: Amazon shares rose 2.4% to close at $104.98 on Wednesday, and added about 2.2% in the trading session. Thursday pre-market trading.

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