Bullseye Pick Of The Week – NFLX

https://shared.tradersync.com/jeffrb/df85230b-2f6d-11ed-9bff-061a3d52649f

The early morning selloff Tuesday morning provided a great spot for an entry in NFLX. I took the trade, and although I got out of some to control my risk, I quickly re-entered the trade as it showed strength.

I Bought some in the mid $5’s and sold in the mid 7’s and mid 9’s as NFLX had a strong trend day yesterday 

I’m out of the trade now given how quickly it worked, despite there still being plenty of room to run to my initial $240 target.

Here were some of my thoughts yesterday:

There are a lot of positive things to like about NFLX lately. It has been one of the strongest large cap tech stocks over the past couple months. 

After back-to-back disastrous earnings reports, the company is finally finding its footing and has been grinding higher from the $180 range to nearly $250 a couple of weeks ago.

I am going with options that expire 3 weeks out in order to give myself more time for this trade to work out if needed.