Jul. 9 at 7:01 PM
$AMRZ is bouncing today but don't get too excited
We're still in a nasty five-day slide after that Truist downgrade
Price target slashed from
$65 to
$48
That's a big reset
Options flow is all about puts right now
714 contracts at the ask plus a spike to 2,679 today
Traders are hedging hard and paying for downside protection
Going long without a hedge here is a risky move
The market's saying this is more of a hedged relief rally, not a bullish reversal
Stay sharp out there