AMZN — First Flyagonal Trade

🦋 Starting experiments with a controlled-risk structure

I’m starting to explore Flyagonal structures in live trading.

Up until now, most of my options trading has been focused on weekly credit spreads, mainly Bear Call Spreads. But Flyagonal caught my attention because it creates a much more flexible payoff structure with multiple profit scenarios instead of a simple linear profile.

So I decided to start with a small test trade and study:

• how the structure behaves in real market conditions

• how the P/L evolves day by day

• how the Greeks change over time

• how manageable the position feels

• and whether Flyagonals fit my trading style at all.

For this first trade, I narrowed the market down to highly liquid names with weekly options and tight bid/ask spreads:

• AMZN

• SPY

• IWM

• QQQ

• META

• NVDA

• AAPL

• NFLX

• SLV

• TLT

Then I analyzed each ticker using:

• Daily timeframe

• Weekly timeframe

• Monthly timeframe

The indicators were intentionally simple:

• EMA 21

• EMA 50

• Bollinger Bands

• RSI

• ATR

The goal was not to predict a huge directional move, but to find a stock with:

• strong liquidity

• healthy movement

• controlled momentum

• and enough room for a Flyagonal to work properly.

Amazon.com Inc (AMZN) ended up being the best candidate.