NFLX is right at breakeven or at a slight profit (depending on entries) and the stock is up at 445. The reason the position isn’t getting hit hard from the stock movement is that the other changes in option value, namely vega (and term structure) are helping the position.
It’s time to add to the trade as we are close enough to the adjustment point to add here.
Buy to open NFLX Mar/Apr 450 put calendar at 5.40
This will increase capital, increase max risk, increase rewards (but decrease on a %age basis), and increase odds.
Next add will be if NFLX moves to 470 or 400.