Meta has officially broken short-term ranging resistance to the upside

102539156 Dan : Does it mean can add to long position now?

Cat army : I bought Netflix 150 puts for this week. In big loss, any suggestions?

收米米 : I was deeply trapped in the SQQQ when I was 65. Now I just lie flat. It was already shuttled before it reached 56. Do not resist, etc.

SpyderCall OP 102539156 Dan : that depends if you're a bullish on meta. if we can close the days candle above that resistance then it will look pretty bullish. but the real bullishness will not start until we break above This downward price channel that I mentioned. until we get above the resistance of the downward price channel truly we are not bullish yet. today looks very very strong though so it is hard for me not to jump into a long position. but I have not gotten a long position yet or a short position on meta. I would rather see how the daily candle closes today before I can decide on a play

SpyderCall OP Cat army : a 150 strike is pretty far out of the money to the downside. it might be difficult for Netflix to move down that far before the week is over. so that option is a little risky. I like to get options a little closer to the money. they are more expensive but less risky. I think the only hope you would have on reaching that price or getting close to it is by a really bad earnings report. and that will happen after hours today. that would be the only the thing I could see that would bring Netflix price down that far that fast.

SpyderCall OP Cat army : personally I like to buy my options closer to the money because if I don't think the price can reach my strike then I don't want to buy it. ideally you want your strike price close enough so the price of the stock can pass your strike and you will eventually be in the money. and you want your expiration to be far enough in the future to give the stocks price time to reach your strike as well. that is the less risky way to do it. but the more risky way to do it if you really think there is going to be a very big move then you would take a riskier play like a further out of the money strike price with a short expiration. with options I don't like to play a lot of risk. so I do the less risky plays

102539156 Dan SpyderCall OP : I had some positions actually, at 172.. just breakeven now… cut 1/5 first in case d price tumble down agn … any advise? Or Shd cut 1/2 first?

70196549-Sin 收米米 : I'm just like you.

收米米 70196549-Sin : It's kind of angry.

SpyderCall OP 102539156 Dan : as of right now Matt is looking strong today. and if you look at the daily candles it is in a clear uptrend. and this breakout of this resistance of this range is a continuation of the uptrend. if you're holding one positions on meta then I would just hold for now. when we reach that resistance of the downward trending price channels that I mentioned above I would consider taking some profit if we reject that resistance. but if we break out above that resistance you could possibly even add to your position. but in this bad macroeconomic environment I would not be adding anymore to my position just yet