My Trade Details:
- NFLX Sept 23 $230 calls near $5
- Enter : Pullback to $225
- Stop : Under $218
- Target : $240 or higher
Up over 300% on entry
Bullseye Pick Of The Week – NFLX - Bullseye Pick of the Week
Bullseye Pick Of The Week – NFLX
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.