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Prime Day has come and gone for AMZN, with the stock reacting poorly post sales numbers release. Given the huge rally in the stock in anticipation, I think the short term high is likely in place for the time being in AMZN. A bearish short call spread makes sense to me here.


Buy AMZN July 777.50 calls (expire 7/22/16)

Sell AMZN July 775 Calls (expire 7/22/16)

0.45 net credit

With earnings due 7/28/16, want to stay shorter term to avoid the earnings date.