Options Spy | Target price for Amazon's long/short battle: 100

Economic worries have returned, with the fear index, the VIX, soaring to its highest level since late May. Led by Apple, the Dow fell nearly 400 points on Tuesday, its worst day since the banking crisis in March, and closed below the 200-day mark for the first time since March 22. The S&P 500 fell 1.5 percent to a three-month low, falling below 4,300 for the first time since June 9.

On the data front, the latest consumer confidence report and home sales data raised concerns about the state of the U.S. economy, with the consumer confidence index at 103.0 in September, below market expectations of 105.5 and touching the lowest since May.

U.S. new home sales missed expectations in August, falling 8.7% to 675,000 units, below expectations of 699,000 units and 739,000 units previously.

Minneapolis Fed President Neel Kashkari said on Tuesday there was a 60 percent chance the Fed could bring inflation down to its 2 percent target without serious harm to the economy, and another 40 percent chance inflation could become entrenched enough to require further rate hikes to control it.

A government shutdown looms, with reports that representatives of both parties are nearing agreement on a short-term spending measure to keep the government open past October 1.

U.S. President Joe Biden on Tuesday headed to a $General Motors(GM)$ plant in suburban Detroit, where he told strikers he agreed with the United Auto Workers union's demand for a big pay raise. Encourage workers to protest against GM, $Ford(F)$ and Stellantis.

Amazon shares tumbled 4% after the Federal Trade Commission joined 17 state attorneys general in a lawsuit against the e-commerce giant, accusing it of using a range of anti-competitive and unfair tactics to illegally maintain its monopoly position. The FTC said in a statement that Amazon prevents competitors and sellers from lowering prices, undercuts the quality of products and services to consumers, overcharges sellers, stifles innovation, and prevents competitors from competing fairly with Amazon.

From the perspective of Amazon option trading, whether short or bottom buying, institutions are more unified in choosing 100 as the target price.

Bottom:

• sell $AMZN 20231215 100.0 PUT$

short：

• buy $AMZN 20231117 100.0 PUT$

• buy $AMZN 20231006 119.0 PUT$

• buy $AMZN 20230929 140.0 PUT$

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Option buyer open position (Single leg)

Buy TOP T/O:

$SGEN 20240621 220.0 PUT$ $NVDA 20240315 360.0 PUT$

Buy TOP Vol:

$PAAS 20231117 12.0 PUT$ $MET 20231215 67.5 CALL$

Other tech stocks:

$MSFT 20231027 325.0 CALL$ $MSFT 20230929 340.0 PUT$ $AAPL 20230929 185.0 PUT$

Note: This image data is from Tiger PC. This screening is a significant buy open position for options contracts in the market. The purchase of a call option means that the trader believes that the underlying has upward momentum, and the purchase of a put option means that the trader believes that the underlying has downward momentum. These contract openings typically indicate significant activity in the underlying stock, including whether the trader is willing to accumulate a long or short option position.

Option seller open position (Single leg)

Sell TOP T/O:

$MSFT 20230929 355.0 PUT$ $AAPL 20230929 190.0 PUT$

Sell TOP Vol:：

$KO 20231215 52.5 PUT$ $NKE 20240119 135.0 CALL$

Note: This image data is from Tiger PC. This screen is a significant sell open position for an option contract in the market. A sell of a call option means that the trader believes that the underlying trend has peaked, and a sell of a put option means that the trader believes that the underlying trend has bottomed. These contract openings typically indicate significant activity in the underlying stock, including whether the trader is willing to accumulate a long or short option position.

Options portfolio open position

Note: This image data is from Tiger PC. This screening is a significant portfolio of options contracts in the market. Portfolio opening includes a variety of underlying trends, requiring traders to further master the basic knowledge of options for analysis and judgment.