Closing Trade : NFLX

Stock / Symbol: Neflix / NFLX

Option Strategy: [private_monthly]iron condor[/private_monthly]
Trade entry date: Jan 25
Price at trade entry : $94.95

Reasoning: A good earnings report coupled with a large short position have caused NFFX to really pop to the upside. [private_monthly] We're going to attempt to close the call spread portion of the trade on a mid-day dip in the stock, at a relatively small loss, to avoid a larger loss should the stock finish the day higher than its current point. The put spread portion of the trade will expire worthless.[/private_monthly]

Trade Details:

BTC -1 NFLX JanWk4 115 call
STC 1 NFLX JanWk4 120 call

for a net debit of $2.00 per contract (day order, limit order)

Max Risk: $414
Max Reward: $86 or 20%
Profit Range: $75 to $115 by Jan 27
Profit / Loss upon fill: ($114) (pre-commission)


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