Let’s set up a live earnings trade for NFLX in the options market using a broken wing butterfly. Using Elliott Wave and Fibonacci analysis we select the ideal strikes and take you through the risk / reward of the options strategy. It’s looks like it can move higher post-earnings, but not by much….
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I’m in with NFLx trade, I understand where you want to go but what is the “ultimate finish”? sell a wing let a wing expire? This final goal I need to grasp and I bet I am not alone!
Thanks
Rich
Yes, I also would like to know how you manage your butterfly trades… The USO one put on a week or two ago as an example. Do you wait until right around expiration to close them out? Or do you take certain legs off ?
Thanks,
-Snyder