From January 6th
The last standard targets on our books for NFLX are 135.78-140.41, but we should use a tight stop if want to participate on that upside, initial concern should be a break under 1341.43 with continuation under 129.10. Chart here (link) and here (link).
NFLX won its place as a core, so again if trading the last squiggles higher first one has to set stops and respect them.
January 18th
With a high at 135.45 we must assume that $NFLX has topped in some degree, so we must focus on support levels during and after earnings. Initial support should be set at 108.45 or .50 retrace for this blue count, chart here (link) alternative support is 116.84, chart here (link).
NFLX has always been a conundrum, so inability to break under 123.06 should be something worrisome for traders selling calls or over trading puts. Chart here (link).
Weekly count for 153, here (link) and monthly count for 156 here (link).
On the upside, with no bigger retrace, at a minimum we want $NFLX at 146. We are watching support levels to average down while we are long.
Some of the Trades that we placed in the room into earning, note majority of our bias is long going into earning…
Sold Put Credit spreads on June 100/90
Sold Put Credit Spreads on Jan Week 4 110/100
Bought calendar 111 for 40 cents (hedge)
Long 130 Calls Jan Monthly (Earning trade)
Sold Call credit Spread 150/160
Sold Strangle 146/115
