NFLX: Taking Profits (A Follow Up)

Hey traders!

Last week, I posted a bullish Netflix (NFLX) setup at Five Star Trader. At this point, this trade is making targets, and I’m taking profits.

What does that look like? Well, Netflix has hit just below my price target of $730. My put credit spread, and my butterfly has two days remaining. One could argue that I could wait another two days to squeeze out more profits, but I like to be relatively conservative with my exits because I don’t like my profits to disappear when lousy news hits when my options are too close to expiring. I don’t enjoy spending all this time following a trade only to get down to the wire and have it suddenly lose profits and, even worse, lose the original investment!

Check out a screenshot of Netflix making targets below:

Want to learn more about how I managed the trade and why? Check out my Trade Review YouTube video below:

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