Quick Netflix Short
Updated
I'm seeing strong short term downwards pressure on Netflix. Target for profits is about 85ish.
There is very strong support down below 85, which indicates to me that someone with deep pockets and a long term view is aiming to keep netflix above that level. If that is the case, exiting at 85 and going long would be the best play.
There is very strong support down below 85, which indicates to me that someone with deep pockets and a long term view is aiming to keep netflix above that level. If that is the case, exiting at 85 and going long would be the best play.
Trade active
Still waiting for some profit out of this one. It may be that the puts I bought have lost too much value to be worth holding, but I'm taking this one as a learning opportunity.Still watching for a hard stop though at $96.72.
Trade closed: stop reached
Closed because it hit my stop.
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