Amazon is set to unveil its earnings this Thursday post-market, and despite mixed sentiments in the market regarding the outcome, I maintain a positive outlook. A brief analysis indicates favorable trends in Amazon's business metrics, although challenges such as supply chain disruptions, inflation, and shifting customer behaviors present uncertainties that defy easy quantification.
I anticipate a 3-6% upside potential following the earnings report. While engaging in short-term Covered Call Options against my underlying holdings, I exercised caution to avoid excessive aggression. Notably, the last Covered Call option, sold last week with a $10 premium above my underlying, is now significantly in the money. My strategy involves closing this position within the next two trading days to mitigate exposure ahead of the earnings report.
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