NETFLIXNETFLIX
BELOW 375 DOWNTREND
TGT >>>>> 370
TGT >>>>> 362
STOP>>>> 380.6
ABOVE 382.5 DOWNTREND
TGT >>>>> 394
TGT >>>>> 401
STOP>>>> 376
Netflix
TWITTER looks weak at current levelsi see the stock may extreme pressure in coming days !! even 20$ cant be ruled out
NFLX updateAs of writing this, NFLX is down 14% at 343 dollars a share on disappointing revenue and subscriber growth, and weak subscriber growth estimates into Q3.
This decline in price puts our 400 dollar put position 57 dollars in the money which will more than offset the loss on the call position.
Further more the options bought expired 7/20 since we planned on selling them at market open. The cheap short expiration options allowed to limit the loss taken on either direction.
NFLX tendency for large dollar moves after hours makes it a great candidate for straddles as it allows the winning position to outweigh the loosing position and be sold for an immediate profit
NFLX 100 ma is at 338, a vital level to watch for a test and point of reversal.
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