OMNICHART presents => NFLX - long term trend

Netflix is still in an upward channel - in a long term bullish trend. In the coming months if it meets the support line and bounces off then that would be the time to buy leaps or scale into additional long term positions. Or start scaling in along with a put spread/s until the support line for a year. A tweak in the trade do make additional income would be to sell put at the support line for every week or month and most likely it will expire worth less and then sell a subsequent put (for week or month) at a point higher on the support line , basically keep selling your puts on the support line as time moves along and the price is above the support line. This was you might just cover the price of the long put you bought today and even make additional income. And if the stock goes up you are still making money. This buys you additional protection for free based on how disciplined you are with managing the put spread (especially the short end of it).