Sniped NFLX

I love trading NFLX because it is pretty consistent. When I trade NFLX, I look for quick trades because it seems to turn fairly quickly. I bought 3 NFLX Jul13 225 Calls. I picked up over $3 for a nice profit over $400 in about 30 minutes. I bought in a little earlier than usual, but I saw a strong push, so if nothing else, I wanted to pinch a couple of hundred on the ride up. It ran up a little stronger than expected, and the option price jumped with the run. I was pretty happy with the trade. As always, I NEVER go back into the market, when I sell a position. I have shut all charts and news down for the day. I will not make the same mistake I have made so many times in the past by going back in and losing everything I have gained. I will not gamble.

NFLX was a pretty easy trade for my trading style. It opened above the previous day's high. The market was screaming up. The candles were in my established trading range. Side note: I think it is important to develop a trading range. You will see that most stock trade within that range. I develop ranges from the 55 and the Daily. This have really helped improve my trading. If the candles are near the top of the range, I am expecting it to go down and rarely blast through the level of support or resistance. If it "peeps" through, I do not dare touch it. If it blasts through, and other indicators are present, I look for an entry point. I found that NFLX blasted through a pretty strong level of resistence from the 55. It sitting in the middle of my trading range- going up from the daily. It gapped well above the 50 MA on the Daily. The last solid indicators for confirmation were from my 13. Every red line on Gary's setting off my 13 chart were pointing strait up. Last solid indicator was, the "E" was showing very clearly from my 13.

Have a great day. I am gone fishing!

Wow! Very nice move, rookie.

I also sniped NFLX this morning, though not as well as you.

09:46 buy to open NFLX Jul 230 @ $7.15
09:57 sell to close NFLX Jul 230 @ $8.30

Thanks for posting your thought process. I'll have to see what I can steal from you.

Good sniper trade. I like to use the daily on NFLX as well since that is where the gaps are that tells me for the most part about where this stock is heading. Putting my neck out but from all I see on the daily NFLX will hit at least $233 - $235 before another strong pull back.

NFLX came back to close the gap (daily) and used the mid-gap of 4/22 - 4/23. Makes me take a closer look at NFLX earnings coming up.

However for the most part this market IMHO today


ADDENDUM @ 1:58

NFLX hit $234.67 on 3 minute chart @ around 1:48 PM 7/8.

Helpful hint ...mark your gaps on Daily and use as resistance and support.



Edited 1 time(s). Last edit at 07/08/2013 01:02PM by Darcy2.

Bought NFLX yesterday

5 - 230 call contracts for $7.70 held over night because it hit my $234 level and sold this morning for $14.85.

I seldom hold over night...I mean I SELDOM do but with NFLX I was sure it was going higher after it broke my $234 level.

Like Rookie I LOVE NFLX.

Profit 92%

Done for the day.....

@Darcy:

Darcy
Great job! I did the same play Virtual. Bought 5 July 230 Calls for $7.65 and sold for $14.00. 83% profit.

Thank you robert and Traildoc...

Way to go Traildoc. Chalk one up for the team!

Another [very] quick NFLX snipe.

09:39 BTO 245 C @ 8.00
09:41 STC 245 C @ 9.36

The stock has continued to go up, but I'm very happy with my quick profit.

Reason for purchase:

55 GW fat pitch w/ RSI < 20 and heading up
13 GW all indicators pointing up
5 & 13 E signal
General market heading in same direction at open.