After a long, sideways consolidation, Amazon is approaching the limit of this wedge. An earlier trend line forms resistance above at around 3700.
Play this with April/May expiration options. Open a long $3200/$3400 strangle expiring in May and sell a $3700 strike call expiring in April. The long $3400 call + the short $3700 call itself constitutes a poor man's covered call.
Play this with April/May expiration options. Open a long $3200/$3400 strangle expiring in May and sell a $3700 strike call expiring in April. The long $3400 call + the short $3700 call itself constitutes a poor man's covered call.