Yahoo Finance·2026-02-07 15:15Group 1: Amazon (AMZN) - Amazon's stock has declined by 9% at the start of the year, but this has not deterred smart money as indicated by volatility skew analysis [1] - For the March 20 expiration, the volatility skew shows elevated call implied volatility (IV) compared to puts, indicating a focus on upside volatility protection [8] - The Expected Move calculator projects a price range for AMZN between $194.94 and $225.71, with a probability density peak near $212 [10][11] Group 2: Chewy (CHWY) - Chewy's stock has dropped over 15% since January, with a different volatility skew profile compared to Amazon, focusing on downside risk management [13] - The skew indicates that put IV is higher than call IV, reflecting demand for insurance against tail risk, while also suggesting potential upside tail risk [14][15] - The Expected Move calculator estimates a price range for CHWY between $24.88 and $31.16, with a probability density peak near $32 [16][17] Group 3: Expedia Group (EXPE) - Expedia's stock is down more than 16% year-to-date, and while labeled a Weak Buy, the volatility skew presents an interesting setup [18] - The skew shows elevated put IV at lower strike prices, indicating a concern for downside protection, while call IV rises at higher strikes, suggesting potential upside risk [19][20] - The Expected Move calculator projects a price range for EXPE between $207.55 and $266.15, with a probability density peak around $262 [21][22]