AMZN July 15th Options Begin Trading

The article is an options-focused market note on Amazon (AMZN), highlighting that new July 15th options contracts began trading. It identifies one put and one call as especially notable: a $230 put with a $2.23 bid, implying a cost basis of $227.77 if assigned, and a $240 covered call with a $5.00 bid, implying a potential total return of 2.67% if called away at expiration. The piece emphasizes option-implied probabilities, with the put showing a 73% chance of expiring worthless and the call a 51% chance of expiring worthless. It also compares implied volatility in the two examples (32%-33%) versus AMZN’s trailing 12-month volatility of 31%. Overall, the article is neutral and informational, framing AMZN options as yield-enhancing strategies rather than signaling a major fundamental shift in the stock.