Amazon.com (NASDAQ: AMZN) June call option implied volatility is at 23, compared to 17 on June 7, July is at 21; compared to its 52-week range of 14 to 42 as shares pull back as investor increase risk profile of FAAMG stocks. FANG has morphed into FAAMG which includes Facebook (NASDAQ: FB), Amazon.com (NASDAQ: AMZN), Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), and Alphabet (NASDAQ: GOOGL). These are the names that have dominated the S&P and Nasdaq indices when it comes to outperformance.