Bought Amazon's July call option with a strike price of 230.

For more stability, you could add January next year's, or buy the underlying stock.

Let's talk about the risks of options: options can yield high profits, but if you're wrong, they also magnify losses. So, avoid using calls unless there's a major opportunity; one or two trades a month is plenty.

Then, I suggest everyone set a position limit for options based on their risk appetite. For example, something like ten percent of the portfolio.

Options inherently involve speculation. It's best to use profits to buy options, as that leads to a better mindset.

$Amazon(AMZN.US)