 Welcome back with us tonight. I'll try to explain how and why we decided to get in Netflix on Friday It was the same day expiration after a huge push on Thursday I'll try to let you in on why it drew my attention on a specific line Why we decided to average down and why we decided to sell and what was the trigger? So basically looking at the chart Thursday There was a big push on Netflix at about you know 520 to about 545 ish You see there was a clear rejection on a double top right here double top This is a little lower. So it kind of tells you that you know people are taking profit However, the next day same line here. We're just rejecting rejecting and then we We were about to break about this is what drew my attention This is why where I decided to get in in fact a little before and I'll show you right where This is the line where I decided to get in You know rejected it and then it looked pretty much as if we were about to break through this line. So The idea was if we were 547 very close to 550 Going 550s at that point. I believe we were 22 per contract. So it's still pretty expensive. So in order to get Break-even on this trade you need to close at least 552 22 right? This will close break-even At expiration the idea is not to get to expiration. However, it's to make money on the way there It was a little expensive. However, it looked as if we could move and cross this 550 line with ease and I'll show you why on the Daily chart See, this is let me get out of this. This is a daily chart the Previous day was this long tall green candle and look at this is what I was looking at basically from my Profit taking my PT was in 556 ish and this is why basically Here See this puppy here those support clear resistance clear resistance again clear resistance and Let me get you back to where we were same line. I Was under the impression that we could rise to 556 and the 556 ish So 556 if you pay 222 you're well in the money and it becomes profitable. However, it didn't happen quite that way and It quickly turned around Sometimes market makers see our move and they know that it could go that way so they want to reject our play. So Here's what happened Look on where It started tagging, right This is support Which we went But look at the previous day four o'clock Just before the bell closing bell. We came down to this line Right, and then we started hovering and Same thing here Sorry, this is a little ball here this little hovering part part See how it's on support. Well, it became support right here And this is where I decided to average down because I knew it would somewhat push a little bit and and if you recall the The Average down I believe it was a dollar and oh 6066 cents for the average down Making it a dollar five dollar five Per contract dollar five means we need to close at five fifty one oh five now that is a Lot more achievable. Why because I'll get rid of this again Because you know that Retracing back to the high at least testing this high from this low this rise we were here in 551 ish right and Coming back to this point Was more than probable same thing that happened We were within pennies of that high on the double top 551 38 Which is if we had closed there that 105 Would be we would we would have been more than 105 But here we had a value of more than 105 eventually we sold for I believe in the 90s 90% from from this so Recap on the play This here was the last resistance before 556 plus by 56 plus We blew The high of the previous day With some volume, but rejected something here. I don't know what it was but anyways Came down, but we were still inside all the sellers You know we're higher than the sellers higher than the sellers here still inside so basically we're bouncing We're still in bullish mode and then the idea is to retrace To the high of the day where they are close to it. See here. It didn't retrace quite as high as there Here we could have expected the same thing, but we blew or we went right pretty much on it So basically this was a little premature This break was a little premature Congrats if you took only this part to the move up but the idea you have to keep in mind that This is what my my kind of rule of thumb The price that I'm paying for premiums and this particularly in this particular case my average was 105 Am I going to be possible to be green on this at any point in time? If we retrace to my target and the answer was yes, because I believe that we could have gone to 555 51 easily And this was this is what we got so in The end I wish we could have gone to 556 right away But we ended up having a harder time on this bounce Retraced back up there, but again, this is a lot of Same day expiration is extremely risky the idea you have to be very small with your playing size and In this particular case we it stayed Between some sort of a channel, however, it could have been like this Playing with us with no value to our premiums It would it could have happened basically you lose all the value of your your play. So it ended up being a profitable play But in the end always be very careful playing this kind of thing it worked out and Basically, I just shared Exactly what I had in mind playing the play. So I hope you guys understand a little bit of what I had in my mind and don't forget the Little reward we get is, you know, when you hit the like button and you subscribe to our where to our Our little show here. So I'll see you again soon. Take care folks