NFLX looks like a great short here. Took some puts Nov 24 $437.5 and $435.I'm expecting a retracement down to at least $413 or $396, however lower targets also possible (hence why I added the to the chart).
Nota
Went up through resistance, will add more puts if we hit the upper resistance tomorrow.Nota
Waiting for $465, think that's a good level to add more.Nota
Starting adding here at $465 - think we get a pop to $469 between today and tomorrow and that's the top.Nota
April 2024 puts is what I'm taking and close to in the moneyNota
Clearly got the timing of this one wrong. Next key levels are $481 and $496. Still think we should top out somewhere soon.My puts that expired this week I rolled until next week. I own $440 and $435 Dec 1 puts. Those are risky though. Really the play I'm looking for is to buy puts up in this range for April 2024 and hold for the next 5 months.
Think netflix will end up a lot lower over the course of the next 6 months.
Nota
Bought NFLX 03/15/2024 430.00 when price was at $481
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