Heavy, Unusual Volume in Amazon Options Ahead of Earnings in Two Weeks

Barchart reports unusually heavy options volume in Amazon (AMZN.OQ) ahead of its earnings at month-end, with investors positioning for upside after recent bullish catalysts including an OpenAI partnership report and analyst revenue upgrades. AMZN is trading around $249.55 (up ~4% intraday from a March low near $199) and saw a notable surge in activity in a $260 May 8 call (≈59x prior open interest). The article highlights raised revenue forecasts (consensus ~$901.5B for 2027, ~25.7% above 2025) and cash-flow modeling that implies ~$35.3B free cash flow and a theoretical one-year price target near $327.91 (≈31% upside). Covered-call premiums at the $260 strike imply short-term total-return and yield opportunities. Overall, the flow and fundamental revisions point to bullish sentiment that could drive further upside in AMZN shares into and after earnings.