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Home › Forums › Swing Trades › Post Earnings Support Buy in NFLX
After a monster gap higher on earnings, the stock rallied 80 points, and is now retracing a good portion of that move. I think support holds and that the earnings day open will bring in fresh buyers.
I’ve been early on trades like this before, so I want to be picky with my fills and will be ready to add if necessary.
Also, the bid/ask spreads are surprisingly wide here so make sure you use limit orders here.
Sell to open NFLX Apr 380/375 bull put spread at 1.00 or higher.
This trade will get filled only if NFLX sells into that 440-435 level. No fill, no play.
ADD to the trade at 1.50
CLOSE the trade at 0.30
NFLX made a roundtrip back to 450, so it’s time to close. The stock has earnings before April options expiration so it’s not the best idea to try and hold this all the way to options expiration.
Buy to close NFLX Apr 380/375 bull put spread @0.35
.35 is the mid, but if you want to go for .30 you should get that fill headed into the afternoon trading session.
Return: 0.65 per spread
Return on Max Risk: 16%