Observed Signal · Aug 12, 2026 · Trading Strategy · Source: CNBC Investing · Impact: 2/5 · Sentiment: Neutral
Trader Khouw Proposes 'Jade Lizard' for Range-Bound Amazon
CNBC Options Action host Michael (Mike) Khouw says Amazon shares look likely to remain range-bound in the weeks before the next quarterly earnings, and outlines a short-options strategy known as a “jade lizard” to profit from limited movement. The article notes Amazon’s estimated FY2026 revenue above $828 billion (15.5% YoY growth), a market multiple near 22x FY2027 adjusted EPS estimates of $12.35, and very large FY2027 capital expenditures (nearly $280 billion) alongside forecast EBITDA north of $280 billion. Khouw’s recommended trade (expiring Sep 25) is: sell the 240 put, sell the 300 call, and buy the 320 call, betting the stock won’t make new all-time highs before late September.
Market commentary and a short-term options trade idea about Amazon (a major retailer and platform) is relevant to investors but is not an industry-shifting technical, policy, or earnings development for the AdTech/MarTech ecosystem.
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Key Takeaways & Evidence Grounding
- Published on 2026-08-12.
- Amazon’s FY2026 revenues are estimated at more than $828 billion and 15.5% year-over-year growth.
- The company trades at roughly 22x FY2027 adjusted EPS estimates of $12.35 per share.
- Amazon’s FY2027 capital expenditures are nearly $280 billion while FY2027 forecast EBITDA is also north of $280 billion.
- Trader Mike Khouw recommends a ‘jade lizard’ options trade: sell 240 Sep 25 Put, sell 300 Sep 25 Call, buy 320 Sep 25 Call.
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