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UnknownUnicorn2997486

Netflix Still Has Room To Fall

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Netflix, Inc. (NASDAQ:NFLX)  
UnknownUnicorn2997486  
NASDAQ:NFLX   Netflix, Inc.
Trend Analysis Beyond Technical Analysis Economic Cycles netflixshort technologystocks short correction bearmarket options options-strategy faang faangs
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trendanalysis beyondta economiccycle netflixshort technologystocks short correction bearmarket options options-strategy faang faangs
Despite a 36% dive, $NFLX can fall another 29% and still post a small gain for the year.

Given rising volatility and a broad-market correction, a short position on Netflix could be a good idea.

A bearish strangle with expirations on DEC21 is what I'm currently holding. The possibility for an end of year rally is still there (hence using a strangle for protection if things go awry), but the probability of that rally grows increasingly slim - particularly within the FAANGs as a correction is far past due.
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