Hi,
After discussing the issues facing NFLX with a friend who is an executive in the movie distribution business (DVD sales) with a major studio, I am even more encouraged that there is no upside to NFLX. But since the market can stay irrational longer than any of us can be solvent, I am entering another position of relative safety.
Buy Mar 2011 $290 Call for $.93
Sell Jan 2012 $290 Call for $8.75
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Buying to close JAN 2012 calls at .45. Position closed.
Netflix is the stock of the decade its up from just 3.00 in 2002 to 400 today what a run.
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