Selling Swing: shorting NFLX 240 may puts at 1.50 and 1.35 v
Posted: Thu May 19, 2011 11:08 am
Selling Swing: shorting NFLX 240 may puts at 1.50 and 1.35 vertical trough 2X OVERSIZED the spread. NFLX had a strong open today and is now pulling back, am using this as a shorting opportunity for still believe that 345 may still be the magnet for expiration but if she shows weakness then we reserve the ability to short the NFLX 240 may calls and then the long on NFLX 245 calls that we entered into yesterday would work as the vertical leg. We have 2x oversized on the long 245s this is why this short here on these 240 puts is twice my usual money allocation.