New Volatility Straddle on the Horizon - Amazon.com

I was looking at the volatility chart for Amazon yesterday and noticed it had all the characteristics needed to make a great IV rush play. The logic behind this is the same as the Adobe Straddle play I have going on right now.

Amazon is going to release Quarterly Earnings around July 24 (give or take a day or two, this is when they have in the past 2 years). As you will easily see in the graphic below, Options on AMZN experience a significant increase in their Implied Volatility. Currently the IV for Options on AMZN remains near the rolling 12-months' low. I will continue monitoring AMZN but expect to initiate a Straddle (buy Calls and Puts at the same Strike Price and same Expiration Month) somewhere in the middle of June.

Cheers.