Netflix is sitting at a level of support, and right around our short put, however, I want to add an adjustment to reduce our cost basis.
TRADE ACTION: Add a call spread (no additional margin needed).
STO 18 AUG 435 call
BTO 18 AUG 440 call
Net credit of around $0.70. The same number of contracts as your original position
SPDR Industrials ETF (XLI)
This is a bullish debit spread based on Industrials improving and going higher after seeing the Relative Rotational Graph with the sector in the Improving quadrant, moving toward the Leading quadrant. We can sell weekly calls to reduce our cost basis.
BTO 17 NOV 108 call
STO 25 AUG 109 call
Net debit of around 3.31
First Solar (FSLR)
This is a trade based on it having an ATR move to the downside today, while still being in an overall uptrend for months. We are at the top of the uptrend, so there’s a risk to the downside in the market, but that’s why we are going to ask for more and place a GTC order to see if we can have the trade come to us.
STO 15 SEP 190 put
BTO 15 SEP 185 put
GTC order for 1.75 credit (should fill if stock price gets to the $195.50 level