OPTIONS FLOW$AMZNAmazon.Com IncOpen ticker analysis →
The October 19, 2026 record groups November 20 calls at four strikes. It lists 26,250 $290 calls bought at $3.80, 17,500 $305 calls bought at $1.70, 17,500 $260 calls sold at $14.48 and 26,250 $320 calls bought at $0.76. The reference AMZN stock price was $262.72.
How is the AMZN call package constructed?
The October 19, 2026 record groups November 20 calls at four strikes. It lists 26,250 $290 calls bought at $3.80, 17,500 $305 calls bought at $1.70, 17,500 $260 calls sold at $14.48 and 26,250 $320 calls bought at $0.76. The reference AMZN stock price was $262.72.
The quantities are unequal across strikes. Dividing by 8,750 gives a package of three long $290 calls, two long $305 calls, two short $260 calls and three long $320 calls. That ratio is more informative than calling the entire event bearish or treating all 87,500 reported contracts as identical exposure.
Why are gross premium and net credit different?
The bought legs sum to $14,945,000 using the recorded prices and a standard 100-share multiplier. The sold $260 calls sum to $25,340,000. Their difference is a $10,395,000 net credit, while their sum is $40,285,000 of gross premium. The rounded headline amounts describe two different quantities.
A credit is not a guaranteed profit. The low-strike short calls can lose value faster than the higher-strike calls gain in part of the expiration range. Above all strikes, however, 70,000 long calls against 17,500 short calls leave 52,500 net long calls. The package’s exposure therefore changes as the stock moves.
What does the conditional expiration payoff look like?
Assuming all listed sides are opening positions, unadjusted contracts and these net fill prices, the package retains the $10.395 million credit when AMZN finishes at or below $260. Between $260 and $290, the short calls increase in intrinsic value while the long calls remain out of the money. The first modeled breakeven is $265.94.
The modeled minimum occurs at $290, with a loss of $42.105 million before fees. Higher strikes then change the slope as the long calls acquire intrinsic value. The second modeled breakeven is $316.04, and above $320 the package has increasing upside exposure. Those distinct regions explain why one bearish label is incomplete.
Which assumptions still need confirmation?
The calculation reconstructs the displayed legs; it does not reveal the trader’s total account. Closing transactions, stock holdings, adjusted deliverables, unequal execution timing or omitted legs could change the interpretation. The large gross premium also says nothing by itself about the participant’s identity.
Readers can audit the arithmetic using the leg list below and compare the current chain separately. The record is historical, and the expiration payoff is a conditional model using its archived prices rather than a forecast of where AMZN will finish.
Archived leg entries
- AMZN Nov 20 $290 Call: 26,250 contracts at $3.80 (bought)
- AMZN Nov 20 $305 Call: 17,500 contracts at $1.70 (bought)
- AMZN Nov 20 $260 Call: 17,500 contracts at $14.48 (sold)
- AMZN Nov 20 $320 Call: 26,250 contracts at $0.76 (bought)
Source figures retained for this calculation
| Structure | Unequal-ratio call package |
|---|---|
| Expirations | Nov 20 |
| Strikes | $260, $290, $305, $320 |
| Contracts | 87,500 |
| Total premium | $40.29M |
| Stock at the trade | $262.72 |
Sources and calculation method
The historical inputs above come from the Moomoo OpenD record retained with this article, dated 2026-10-19 11:08:29. Calculations use the listed prices and quantities. Standard option examples assume a 100-share multiplier, unchanged deliverables and the specified opening positions; fees and account-level hedges are excluded.
Reporting responsibility: StockMarketLoop Options Flow Desk. Reporting standards and corrections.
Current market context
This live panel is separate from the archived figures used above.
