Post Earnings Flag in NFLX

[Steven Place]

Looking for continuation higher after this consolidation.

Trade setup is:

Buy to open NFLX Jun 575/595 bull call spread @6.90 or lower

Stop: 549.89

Scale half at 575

That puts initial per spread risk around 200 (that risk can increase over time due to theta).

[Steven Place]

575 hit, so time to scale out half:

Sell to close half size NFLX Jun 575/595 bull call spread @8.20 or higher

[Steven Place]

NFLX is gapping up on “reported” talks that they will be entering China.

Not confirmed.

Going to take profits into this gap up and look for a pullback to rebuy.

Sell to Close Rest NFLX Jun 575/595 bull call spread @13.00

[Author]

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