$NFLX A House Of Cards?

We know $NFLX.  

$NFLX has been falling ever since making new record highs earlier this year.  No one liked this stock at $50 (except us) and everyone liked it at $350+.    Go figure.

The stock is in pullback mode and I think the break of support will send the stock under $300 in the short term.  There is a chance the stock will pop at support.  I'm not going to ignore that possibility.  Here is the risk reward trade I will put on:



$NFLX $330 December puts 3 contracts at $3.00

as a hedge one contract of December $350 at $2.25.

I think $NFLX is a great stock to own, but I also think the selling is not over just yet.

Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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