shorting NFLX 240 weekly calls at 1.80-1.60 OVERSIZED vertical trough NFLX 250 weekly calls around .20-.25

 

/s shorting NFLX 240 weekly calls at 1.80-1.60 OVERSIZED vertical trough NFLX 250 weekly calls around .20-.25.  Have not cleared the long on 250s tend to go in short first and look for a better entry on the long latter especially when its far out of money where premium falls fast. Something U cant do with smaller accounts. CNBS had an annalist on that downgraded it with a 170 target and the NFLX bash created a move down faster than I expected. This made the 245 calls short lose great premium but the 230 puts short gained premium faster than I had time to exit the short side. But since we have the long on 225 puts its helping offset the losses. Now wish to buy more time while making another oversized hedge now that a bounce becomes more unlikely the short on a lower strike buys time to find an exit on the 230 puts short at less premium if we have sideways action but also protecting us if the floor gives away.

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