Profitable: I make money on this trade if NFLX closes between $76.74-$93.26 by April 27, 2012.
Break-even: I breakeven on this trade if NFLX closes at $76.74 or $93.26 by April 27, 2012.
Unprofitable: I lose money on this trade if NFLX closes under $76.74 or above $93.26 by April 27, 2012. The most I can lose on this trade is the Price of the Spread, $1.74.
UPDATE 4.24.2012 With time on my side and more potential profit to be made, I am leaving this trade on. It is currently worth about $5.50, good for a triple.
UPDATE 4.27.2012 I will close this position out and it has worked very well. This spread should be worth about $9 today.
UPDATE 4.30.2012 I took every single penny out of this trade and when the stock was trading $84.50 on Friday, I took this trade off at $9.50. This was a HUGE winning trade and another winner at KOTM.
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