With earnings behind it and a momentum breakdown signal, I sold a call spread on NFLX today. SOLD -3 VERTICAL NFLX 100 MAR 16 100/105 CALL @1.50. Breakeven is 101.50. Return on risk is 42% and the theoretical odds of losing a penny or more on the trade is 30%. I like that spread. Earnings are behind NFLX.
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