Similar to SMH, NFLX looks to be painting a picture perfect 1.27 three drives pattern potentially terminating around Apr 12. There's also an inv H&S pattern within the current channel that supports the same target around 387 which is the Oct 2 high.
The move down will obviously require some kind of negative earnings reaction. Target is around 310 but w/ no timeframe given by the harmonic patterns I don't think the Apr 18 puts are worth the cost. IV for NFLX options for earnings are simply way too expensive.
Gonna keep buying the dip here until 387. Then it's puts time. Will definitely take any profits prior to earnings. Might take a look at OTM May puts for earnings if they're cheap enough.
The move down will obviously require some kind of negative earnings reaction. Target is around 310 but w/ no timeframe given by the harmonic patterns I don't think the Apr 18 puts are worth the cost. IV for NFLX options for earnings are simply way too expensive.
Gonna keep buying the dip here until 387. Then it's puts time. Will definitely take any profits prior to earnings. Might take a look at OTM May puts for earnings if they're cheap enough.