NFLX volatility and trading strategy

Quote from xandman:

A rise in the IV takes me back to even from the slow bleed of theta.

. Too many credit spreads is turning my portfolio into a a giant iron condor. Not the place I want to be in this low vol environment.

No way am i gonna lean negative net delta in this crazy market. Though, I made 30% last year doing that, I really didn't know what I was doing. Most of the profit came in 2 months.
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Your right xandman it IS a tough trade in this environment. I don't mind being slightlhy neg but ultimately I'm forced to go long delta. Find some products you are positive on and put on a few debt call spreads, may be a calendar. I find I pretty much have to accept a week sometimes two where the portfolio is just flat.

also really appreciate newurlds comments somehow they nailed it.
 
Well, we had a nice move up in NFLX. DISH positive earnings may have help sparked the move although DISH was down when I checked.

Looks like I'm playing the right side of the V. I sold some 15 day call spreads into the move to buy( sell ) me some time.

I put the fly trade on last week, way too early. I'll probably start squirming in my seat around 45 days to expiration.

The 65 day butterfly, btw :

S NFLX Jan 14 295 call
B NFLX Jan 14 335 call
S NFLX Jan 14 380 cal

the 15 day call spread:

S NFLX Nov 29 370
B NFLX Nov 29 380

I may layer another call spread in 2 weeks or I may not. Let's see how it goes.
 
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