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This Stock’s Earnings Pop Gives Us a Shot at Triple-Digit Profits

Actions to Take:

  • Buy-to-open NFLX December 15, 2023 395/390 Put Spread. Pay up to $2.00. Plan on exiting the position for a 115% profit.
  • Cancel any outstanding orders on ITA Nov 17, 2023, $108/$109 Call Spread and ITA January 19, 2024, $109/$110 Call Spread.

Shares of Netflix Inc (NFLX) enjoyed a great 15.9% pop yesterday on encouraging quarterly results. That’s good news for NFLX investors – but I don’t think NFLX can fly above an increasingly heavy stock market for very long.

With the S&P about to challenge its 200-day moving average at 4233 and getting close to psychologically important 4200, the weight on investors’ minds could easily suck the air out of NFLX as investors scramble to capture profits on any profit they’re sitting on.

Action to take: Buy-to-open NFLX December 15, 2023 395/390 Put Spread. Pay up to $2.00. Plan on exiting the position for a 115% profit.

Now let’s check in on our outstanding positions, profit targets, and protective stops. Today, we’re updating our instruction on the following recommendation: TSLA December 15, 2023 $225/$220 Put Spread.

Stocks & ETFs:

  • ZIM Integrated Shipping Services Ltd. (ZIM): HOLD
  • Benson Hill, Inc. (BHIL): HOLD
  • Devon Energy Corporation (DVN): HOLD
  • Black Stone Minerals, L.P. (BSM): HOLD Plan on adding the second half of the recommendation at $13.00.
  • 3M Company (MMM): HOLD

Options:

  • SLG November 17, 2023 $25/$20 Put Spread: Plan on exiting the position at $4.00 or more.
  • CBRE December 15, 2023 $75/$70 Put Spread: Plan on exiting the position at $4.20 or more.
  • MET December 15, 2023 $50/$45 Put Spread: Plan on exiting the position at $4.31 or more.
  • BXP December 15, 2023 $55/$50 Put Spread: Plan on exiting the position at $4.76 or more.
  • WAL December 15, 2023 $35/$25 Put Spread: Plan on exiting the position at $9.38 or more.
  • BXP January 19, 2024 $65-$60 Put Spread: Plan on exiting the position at $3.60 or more.
  • FLR January 19, 2024 $35-$32.50 Put Spread: Plan on exiting the position at $1.70 or more.
  • MET January 19, 2024 $62.50-$60 Put Spread: Plan on exiting the position at $1.60 or more.
  • PACW January 19, 2024 $7-$6 Put Spread: Plan on exiting the position at $0.45 or more.
  • SLG January 19, 2024 $35-$30 Put Spread: Plan on exiting the position at $3.50 or more.
  • WAL January 19, 2024 $47.50-$45 Put Spread: Plan on exiting the position at $1.80 or more.
  • TBT January 19, 2024 $35/$30 Put Spread: Plan on exiting the position at $4.73 or more.
  • ROP November 17, 2023 $490/$500 Call Spread: Plan on exiting the position at $9.50 or more – or if shares of ROP trade down to $470.00.
  • WFC December 15, 2023 $40/$37.5 Put Spread: Plan on exiting the first half of the position at $1.39 or more.
  • TSLA December 15, 2023 $225/$220 Put Spread: Plan on exiting the first half of the position at $4.45 or more – or if shares of TSLA trade up to $239.50.

Before we wrap things up this week, I want to us to cancel our outstanding orders on iShares U.S. Aerospace & Defense ETF (ITA). Even though the conflict in the Middle East is escalating, pressure on the market is holding ITA down.

Action to take: Cancel any outstanding orders on ITA Nov 17, 2023, $108/$109 Call Spread and ITA January 19, 2024, $109/$110 Call Spread.

 

Cheers,

Shah