Can Netflix Hold the 20pt Move?

[OptionsKyd]

Wanna see what the community thinks of this massive rally. Should we be setting up credit spreads/Iron condors

 

[beerntrading]

Common sense says no. So I'm going to say yes.

 

[PennySnatch]

There is a sudden and substantial profit for the longs right now so their actions may drive the stock down. I feel for the guys who were holding shorts/long puts/short calls. Ugh.

 

[ET180]

Depends on what the S&P / Nasdaq does. Assuming no significant event, I see 166 as strong longer-term support. Might retest 180 sometime over the next few days.

 

[stevegee58]

depends on what you mean by hold. i'd expect a 38% - 50% retrace of the move in the coming days/weeks.

 

[OptionsKyd]

Rule of thumb is gaps usually get filled. I'm thinking that we will see retracement back to the 160~ level. maybe buy some puts/sell some call credit spreads. Although, this thing just turned into a bull flag...

 

[dealmaker]

Probability of a trend going higher after a green inverted hammer is very high...

 

[just21]

https://en.m.wikipedia.org/wiki/Post-earnings-announcement_drift

It is going up.

 

[ET180]

Rule of thumb is gaps usually get filled. I'm thinking that we will see retracement back to the 160~ level. maybe buy some puts/sell some call credit spreads. Although, this thing just turned into a bull flag...

I don't think it goes to 160 unless S&P significantly weakens. NFLX reported strong subscriber growth.

 

[OptionsKyd]

I think this thing is gonna keep ripping for a bit.