Between the FED not raising rates and the #mueller
report, it seems that a catalyst for that correction is not in the cards just yet. I took the opportunity to enter a few trades.
Added to my January 2021 $55 calls. Cost basis is $640 per option. This stock is extremely undervalued, has a great management team that is executing perfectly. Target price of $90 which would make this option worth $4,000
Bought the May $165 calls for $300. ER is this week. Listening to this CEO during earnings calls is like sitting from row in a top notch MBA class. They are doing everything right; expanding margins, reducing debt and buying back shares. I’m speculating that the stock reaches new highs, dependent on a good ER and overall market rally. Target price of $180 which would make this option worth $1,500
Bought the May $130 calls for $265. This stock is very volatile due to exposure to Asia. The monthly report on Macau operations at the beginning of April will indicate if the slowdown in Asia’s economy has affected gaming in Macau. Also awaiting news on the new project in Boston. Price target is $135 which would make this option worth $500
Bought the May $495 calls for $110. ER is April 16th. Although extremely overvalued, stock has been coiling within its range for a very long time so if earnings are good and subscriber count is continuing to grow, the stock could be set to launch to new highs, especially if the market rallies. Current 52 week high is $423. I don’t believe this will come anywhere near $495 by May, but the premiums on Netflix options are so rich, a strong ER and market rally could easily make these calls worth $500.
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