Buy AMZN via selling vertical put spread
Buy May 185 puts
Sell May 195 puts AMZN@224.7
Amazon.com gaps up on earnings. 195 is yesterday's close. Not much premium from this trade, but with the market rally premiums have been decreasing. I do a vertical to help with margin requirements and limit downside if there is a market crash on this high priced underlying. In exchange, I give up over half the premium from selling the 195s to buy the 185s.
Long AMGN AMZN BRKB LGF MMM TLT
Net long GLD IWM SPY