AMGN reverses Short on a close below 182.14. With the stock currently trading at 182.35, any further weakness and we can easily see AMGN issuing Sell Signal at the close. AMGN had run up from 168 to 201 in just the two months of December and January and it could see all or more of that advance given back by April expiration.
Accordingly, if this Sell is triggered we will be buying the Apr $80 puts, currently trading at around 6.00. Early entry is recommended if it seems likely that AMZN will close below 182.14 by the close.