I am doing several earnings plays below so I am going to keep it short and sweet. NFLX: With an assumption that the stock is ready to take a pause and consolidate, I am buying the following double calender spread:
- Buy June/May $90 calendar
- Buy June/May $80 calendar
Spreads are very wide. I just filled the order for the whole structure for $2.60 debit (only 10 cents below natural price). STX: Going bullish on this name. Buying the following calendar spread:
- Buy June/May $20 calendar
Just filled the order for $0.34 debit.
COV: Lots of bullish activity in recent day. Taking a small speculative position (keep position size small) and buying straight calls.
- Buy to open May $52.50 calls for $1.30 debit.
