NFLX Trade on Apr 22, 2019 09:48 from kerobo0000: Tradervue User Stock Trades.

Rationale:
-NFLX is in a squeeze on the daily chart, above monthly/weekly VWAP on the hourly chart
-market opened very weak today (down during the overnight session, TICK and ADD opened in negative territory)
-the fact NFLX was in uptrend (above monthly/weekly VWAP) and in a squeeze gave me the conviction to buy options
-kept my interest when it sold off after earnings, but stayed within 352-358 S/R zone
-this morning, NFLX was very strong off the open - had 3 green 5min bars (which is a strong opening drive)
-saw a small pullback into hourly resistance turned support at 9:45a and quickly got in
-TICK & ADD opened in negative territory and continued to show weakness so I didn't have a reason to be too aggressive with position sizing

Recap:
-overall, was not expecting a strong trend day for NFLX
-after I got in, NFLX quickly got up to a 1 ATR move on the day (right around hourly resistance at 369.5)
-at that point, I began to scale out, then reduced risk by selling a 367.5 call
-will hold this debit spread and trade around the position (weekly spreads & long calls as I think there is some more upside to capture)

Key corporate events (earnings, dividend, investor day, etc.): NA
How much risk should/did I take? took $3810 of total risk (was willing to draw down $200-300); appropriate level of risk even though I risked just under 20% of account); if sentiment was risk-on, would've risked more

Trade Planning
-structure: long call / call debit spread
-major support: 370 / 365 / 362
-add point: NA
-stop loss: $360
-take profit price / risk-reduction plan: already reduced profit, will look to take off spread if it hits 85% of max profit

2019-05-10 21:16:33
-unsuccessfully legged out of this trade but didn't put too much of a dent into my open profit, solely due to patience on taking the other piece off when I saw there wasn't much more downside to come (and prices rebounded into the close)
-my assumption was for NFLX to trade higher as it was showing strength on the open on elevated volume; however, the market was declining during the overnight session and on the open and internals were negative + no catalyst on NFLX today

-have to be really patient when legging out absent catalyst or very strong market catalyst