Perhaps it was the Google news- Google Stock Heats Up the Video Streaming Wars;
or perhaps it has to do with the $NFLX daily chart below:
Price action looks like it could not hang on to floating prices after the gapped up. Today drop may be a prelude to further drop back to the $180 79sma support line.
Below is the 5 min $NFLX chart that gives me the comfort to buy $NFLX June 215 put option at current price point.
The retracement comes into resistance from both the 79sma and 89xma lines. I see small risk from here since I can’t see any new catalyst from Netflix that will propel the price to shoot much higher from this point.
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