I like NFLX ($228.83, off $0.40) against the 6/13 low for a few reasons.
First there was what I call a Fibonacci price cluster that came in between the 202.58-205.33 area. Second, price is currently above both the 50 and the 200 simple moving averages. Third, I saw what I call TIME symmetry at the last low.
I have illustrated on the daily chart below that there are quite a few swings down that are similar in time. Now I did NOT know there would be positive news for NFLX…my crystal ball is not always clear….but I want to buy pullbacks to the 6/13 low now with the bigger picture upside target coming at at the 260.57 area. If we get to the target area in the next week or so, the July 205 calls in the ~$6 to $7 range could be an interesting instrument. July expiration is a 5-weeker. I will consider myself wrong the trade if the 6/13 low is taken out.