Below is a daily chart of Netflix, Inc. (NFLX).
Trade: Under $317.70, consider shorting Mar (3/23) $332.5/342.5 bear call credit spread (5 DTE) for a limit of $.75/share (closed at $.83/share).
Technical Setup: Breakdown from bearish 2-bar reversal at all-time highs, price void below.
Option Strategy: Bear Call Credit Spread (BCS).
Stop Loss: $322 for now.
Miscellaneous Member Documents and Reminders:
Adjustments and Comments on Open and Closed trades in Master Trader’s Weekly Options Trader. Note: Our Trade Updates are timely posted in a separate Report in the Member’s Area. Please CLICK HERE to see that document for a current reflection on all Open and Closed Trades since the spreadsheet updates immediately and will always be more current than this e-mail update.
Please see Master Trader Guidelines for Trading the Open and Gaps in Member’s Area for rules on trade entry, gaps, etc.
Below is a link to individual videos explaining in greater detail the definitions of the main option trading strategies used by Master Trader in its advisory letters to generate wealth and income.
Description of Master Trader Directional and Income Option Trades can be seen HERE
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Adjustments and Comments on Open and Closed trades in Master Trader’s Weekly Options Trader. Note: Our Trade Updates are timely posted in a separate Report in the Member’s Area. Please CLICK HERE to see that document for a current reflection on all Open and Closed Trades since the spreadsheet updates immediately and will always be more current than this e-mail update.
Since you have enjoyed this Service, please review the following for more detailed education — and profits!
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MasterTrader and You Building Your Financial Future Together
Happy trading! If you have any questions or comments, please e-mail Greg Capra at Greg@mastertrader.com or Dan Gibby at Dan@mastertrader.com
All the best,
Greg Capra
Managing Director of Master Trader
Trading the Pristine Method — Origin and End
Dan Gibby
Chief Options Strategist
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