NFLX Trade on Sep 1, 2020 15:45 from Marius: Tradervue User Stock Trades.

Big Picture
Markets still accelerating upward. Follow-up momentum trade after last weeks previous momentum breakout. Scalping options with less size and taking profits more quickly as many names and areas breaking out vs rotational. VIX rising higher showing risk characteristics.

Intraday Fundamentals

RVOL 1.33
AVOL 7.17M
ATR 17.30
Short Float 2.22%
Inst Own 82.70% / (snapshot below for in/out flow Q1-Q2.13F)
Market Cap 246.56B
Shs Float 433.76M

Options Statistics + Positioning

IV 59.14%
IV Percentile 40%
P/C 0.336
OI 1,175
Vol (market closed / data update)
Delta -.08
Theta -.65
Vega .07

Technical Analysis

Buyers at anchored VWAP from high volume breakout day last week + 2 day VWAP. Buyers in control over R level and above intraday VWAP.

Trade Review

Markets back in play with the sell-off. More notable selling in the Nasdaq then any other index. Some travel related companies and energy seeing relative strength. Managing the trade was interesting seeing how VIX bidding up and option pricing increase. In this bullish position, it was not favorable. The morning sell off was a concern but I wanted to see how it would close and if buyers would step in. By the price action and new lows in the markets towards the end of the day I exited the position to not be exposed to a gap down which may increase risk even further. Even tho expiration was next day the momentum and the risk vs. reward in recovering the position was not worth it. This trade had ended my July through August winning streak. I had plans to get short the market in play and this bullish position needed to be exited to maximize focus and capital on the next trade. Currently short the Nasdaq futures. A bit of a learning hedge strategy for a long-term portfolio and using what's in play to deploy capital efficiently.

Risk on trade here was acceptable in within 1R unit.

A way I could improve the trade is possibly hedging the position itself by selling a call and or shorting commons. My thesis moved from single stock in play to the broader markets which explains why the former was not considered at the time.