In my Virtual Positions post, I wrote the following:
I think these are all terrific plays, except for Netflix, which I am just stupidly putting out there as a raw gamble (I am typing these words during market hours, and by the time you read this, NFLX will do whatever it is doing, so we can see how stupid it was).
Well………
What’s the old saying……….”it’s better to be lucky than smart.” So true. Although the 10% price change for NFLX isn’t exactly earth-shaking……….there have been many such moves in the past, sometimes three times as big.
My “stupid” options on NFLX should throw off a six-figure profit tomorrow. Here was the closing value:
The stock has been range-bound for eons, so this change (reflected here with SlopeCharts after-hours data) illustrates that we’ve simply moved from the top of the range to near the bottom.
The funny thing is that I placed this virtual trade inspired simply by our new Volatility Calendar. NFLX just seemed like a bargain to me. Fun stuff!
