Mar. 15 at 1:12 AM
$AMZN drifted down 1.3% this week
Heavy short-dated ITM put buying is happening while April to December calls are still seeing steady accumulation
Institutions are playing it safe near-term but not bailing on long-term upside
Biggest trades are ask-side, deep ITM and near-ATM puts expiring mid-March
We're seeing repeated 260p, 235p, and 225p blocks with around
$20M in premium
Short-dated downside protection is pricey
Defined-risk put spreads seem smarter than outright puts for now
Meanwhile, call demand from April through year-end is solid
April 17 215c, June and September 220 to 235c, and December 2026