$NFLX Options Soar

NFLX earnings trade

$NFLX call options rocketed higher on Friday as the stock soared almost 6% hitting a high of $97.

Friday's pop higher capped a strong rally for the stock off Monday's sub $85 close.  It was a great week to be in $NFLX call options.  Holders of call options awoke to tremendous gains on Friday, 2,000%+ on many of the weekly strikes.

Thursday after the bell, after consolidating for most the the regular session, $NFLX spiked $2 than $3 than $4, than $5 higher for no discernible reason.

Perhaps NFLX was prepping to leave the Eurozone?  Seeing the market reaction to Brexit this week, that would certainly spark a rally in shares?  🙂

There were many excuses from a new deal, to analysts becoming more bullish.  When you own calls on a stock and it goes up, price is all that matters.  Many times you see upgrades and a stock goes down.  A deal is struck and the stock goes the other way.  Earnings looks great but the stock falls.  Price wins every time.   It was a great way to close out a pretty awesome week.

Entry into calls this week was based upon strong support.  It held and acted as a launch point.  My tweet earlier this past week with the stock under $90 a share.

and the action came close to kissing trendline resistance.  Keep a close eye on this next week.  A break above resistance could ignite a sharp rally back over $110 for $NFLX.


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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