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Selling Swing: shorting 115 Oct calls at 1.79-.70 area OVERSIZED credit spread trough NFLX 120 Oct calls at .50 area . NFLX built back up to the 113.20 point of significance but the hourly body of the last candle formed bellow this level with only the wick above. Multiday direction on my formulas remains negative so using this bounce as a short calls opportunity. We were earlier today up over 100% on the long puts 105 play and that has been erased, so am using premium decay to our advantage. Thease oct options expire this week as we attempt to time the high. This is a intraday critical point for NFLX if she was to pass the day highs and continue building towards 105 then the next steep would be to short 110 weekly puts since we already have the 105 long leg , placing us in an iron condor. Do not expect that to happen NFLX should not tern bullishly so fast but if she dose am planing the next moves.

This trade is one part of a larger strategy so please look back at Previous posts to see the whole picture. AND IF YOU ARE NEW, PAPER TRADE FOR AT LEAST A FEW MONTHS because this is ADVANCED OPTIONS TRADING !!