This morning after the opening I bought to close the puts I sold yesterday. I then sold the next strike up. I did these in what is called a vertical spread. But the basic result is that I bought 6 to close and sold 6 to open. Here are the results.
Thee are both WEEKLYS...
Yesterday sold the nflx 180 put = +602
bought today to close for . ...... -297
sold today to open, the 185 put.. +571
total return ................... = +876
The idea behind the trade is that I now have the same cushion as I had yesterday but there is one day less for NFLX to drop the 11 - 12 points and I made 274 more with the same cushion.
I am looking at the 30 165 puts that I have, and thinking of doing the same. Those have 8.5 days left so I might wait a day or two before rolling them up.
Good trading all.
6 comments:
Beautiful I love it!! I think I'm really starting to like you. :+)
I'm short 100 LVS Dec. 41's I will look later this week and see if some thing similar would work there.
nflx drops more than $10.
i would avoid selling puts on NFLX stock...too risky
Well that was a short relationship!! LOL
out of 65 contracts I only rolled 15 plus looks like the bottom is in. Thank god the CFO didn't have a hooker and a bag of coke as he drove off into the sunset.. Now I remember why I like IWM so much. Geeezzzzzzzzzzz!
This is another reason to limit the number of puts in any one stock. Regarding NFLX itself, I think it is a temporary deal? But the stock has tripled in the last year or so and that always is an 'iffy' situation. It can only take one little thing to cause a profit taking circus. By the end of today we should know where we stand.
lmao @gary.. it doesnt mean he didnt drive off with the hooker he may just not got caught yet? I guess its hard to hold a job once you make it to the top of the food chain. Its easier to steal..lol im still holding on to my 165 puts but i will always remain far away on netflix. very risky stock..
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