NFLX broke through and closed above the 200 DMA and the 27.2% Fib extension, and closed near the top of the candle. This is all bullish, but price is quite stretched here compared to the previous waves since the 9/24/19 bottom and the stochastics.
We're approaching the 61.8% Fib extension for the green range and the yellow range. (Colors aren't significant, they're just to distinguish between 2 ranges.) This is a common area for a reversal, so I'm holding onto the Jan 320/310 Put Spread, which dropped in value today by about $100.
Did I mention this is a high risk trade, and I wouldn't recommend it? At this point I'm thinking I should have taken my own advice.
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