buying NFLX 230 may puts at .51-.63 area and shorting NFLX 255 May calls at .80-.71 area vertical trough the 260 may calls at .33-.38

 

/b buying NFLX 230 may puts at .51-.63 area and shorting NFLX 255 May calls at .80-.71 area vertical trough the 260 may calls at .33-.38 . Both calls and puts oversized, obviously the vertical oversized the spread. My formulas multiday negatives have cleared on NFLX but with the positive news we waited for bearish confirmation before accumulating a strongly bearish position. The market is weak and NFLX is coming off all time highs so her downside could be dramatic. The short on calls helps finance the long on puts for incase we get sideways action.

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