AMZN Credit Put Spread (Bull Put) — Jul 17, 2026
Trade Setup
Current Stock Price
$234.27
Entry Price
$234.11
Expiration
Jul 17, 2026
Suggested Contracts
1
Strike Details
Sell 220P / Buy 210P
Risk / Reward
Max Loss
$854.00
Max Profit
$146.00
Analysis
AMZN (AMAZON.COM INC) presents a credit put spread (bull put) opportunity with moderately elevated implied volatility. IV Rank 28. IV 3842.0% trades 1511.0pp above 30-day HV (2331.0%). This setup favors net premium sellers.
Sell the $220 put and buy the $210 put for protection. Bullish setup — profits if AMZN stays above $220 at expiration. Defined risk equal to the spread width minus credit collected. Underlying ~$234.11, 24 DTE. Max profit $146 per contract, max loss $854, 17.1% return on risk, 78% POP. Breakeven at $218.54.
Management: take profit at ~50% of max profit ($73). Cut at 2x credit ($292 loss). If short strike is breached with > 14 DTE, consider rolling out for a credit. Close before expiration week to avoid gamma risk.
Setup Instructions
Underlying: AMZN @ ~$234.11 Expiration: Jul 17, 2026 (24 DTE) Legs:
- Sell AMZN Jul 17, 2026 $220 Put (delta -0.22, mid $2.54)
- Buy AMZN Jul 17, 2026 $210 Put (delta -0.11, mid $1.07)
Use limit orders at the mid or slightly worse. Verify bid-ask spread (currently ~5.9% of mid) before sending.
Management Plan
Take profit at 50% of max profit ($73). Cut loss if position reaches 2x credit received ($292 loss). Roll if tested with > 14 DTE remaining.