shorting NFLX 300 weekly calls at 2.60-.30 same contract amount as the long on NFLX 315 weekly calls

 

/s shorting NFLX 300 weekly calls at 2.60-.30 same contract amount as the long on NFLX 315 weekly calls. This essentially terns the bullish stake on NFLX into a bearish stake. It is still dangerous since the upper trend line on NFLX is friday low of days and not till that level is broken bearishly on a daly frequency will we see a confirmed bearish direction. But now that the markets have fallen so enormously dramatically, we have to bet that not even NFLX can hold up. But if NFLX was to hold up and build back above 293-295 levels, then the next step of the strategy may be to make the the position off balanced by doubling the long legs contract amount or other protective strategy in short options.

Posted in General Trading