Yesterday, on Bloomberg TV I discussed an iron condor trade on PCLN into earnings. Very rarely to I like playing earnings moves. It can be a mess (see my AMZN trade). But, I thought the IV was cheap and that sometimes IV is cheap for a reason, and that the market was expecting PCLN to move like EXPE which did almost nothing. Watch the Video here:
At 3:35 EDT time today I did a hit for Bloomberg TV's 3 vs Trish segment (Adam Johnson was filling in). In it, I explained how I thought NFLX was no longer the most hated stock in the world, and it also wasn't 300.00 any more. My conclusion, the IV was overpriced, and a selling plan made sense. It was on this hypothosis that I decided that it made sense to be long NFLX via the 95/90 PS.
Clearly, I was wrong, take a look at the closing price and the current after hourse price: