Although most technical indicators point to AMZN going up, I believe AMZN is in a downward channel that will bottom around June options expiration (June 15). The trade here is a bearish call spread using July $200/$240 calls for an obsene $18 credit. For the record, my last AMZN recommendation lost $2 (50%) because of rapidly decaying time premium. I think I'll stick with spreads because the time premium works in my favor instead of against me.