Amazon (AMZN) had a nice run in August, going from $305 to almost $350 before losing steam at its 200-day moving average. Two factors behind the weakness were disappointing sales of its new Amazon Fire phone and comparisons of the company’s margins to the pending Alibaba IPO. However, I expect the stock to regain momentum as the dust settles after Alibaba goes public. Buy to open AMZN September $320 calls (exp. 9/26) at $9.30 or under. This is an aggressive trade.