just a few pennies but its funny that I am always thinking of angles, and I thought - "why not take a shot n some puts". Never thought it would crash but I looked at the 205p @2.45 and thought "hmmmm... maybe it trades to 200 by Friday and that makes a nice st profit." Thus, if I had bought just a 4 lot, like I did for the calls it would mean almost a $14,000 profit. What's the moral or lesson of that story... yu always miss 100% of the shots you DO NOT take?? Can't just be gambling on lottery tickets with 2 days to expiry on a OTM put.
this stock is in distribution mode for the moment, on a scalp long 162 area with a stop around 160, longer term stock looks broken. This is a tough call. you may look at risk reversals if you know what you are doing. Good trading.
the problem is not purely netflix, it's the US retail sector, take a closer look at the table of this link: http://econometricsanalysis.wordpress.com/us-sales-reports/sales-2011/august-2011/ For e.g., look at Retail Total less Gasoline from the above, the gain is a whoppy 0.003%, that means their gain in spending solely goes to gasoline, when you remove gasoline, you have no $$. many sectors are tanking compares to a year ago: http://econometricsanalysis.wordpress.com/us-sales-reports/sales-2010/august-2010/ By comparison, look at the same month a year ago from the above link: retail total less gasoline is a gain of 0.254%. So the consumer discretionary sector is tanking fast, we'll see a lot more cut back in non-essential spending in the next many, many months to come
then why is the market going up-- I have puts on NDX, and as of Friday, on APPL. Yet the sucker hits 400 and NDX goes up all week.