AMZN

You can see my position in AMZN immediately below this post. It took a hell of a lot of pain to get the position looking the way it is right now. Basically, my risk profile looks like a butterfly with a few extra calls to the upside to give it curvature. Today, I bought in a 20 lot of calls as the stock was rippin on an overall down day. It probably should have been half that number as it leans me a little too long. I needed to cover some short deltas as I'm fairly short gamma right here and I want to trade this tight. If the market can stage a rally right here though this should payoff.

My logic for the position is that I wanted to be short premium for the Aug expiration. This allows for me to control my risk, but yet participate in a potentially slow couple of weeks.