SPY - After ranching new highs we’re seeing some weakness in SPY. I have support and fib confluence at $290.70 and I’m currently holding $293 puts. Price is showing a little strength currently so I’ll be nimble with my current positions. That said, I do think $290.70 is in the cards for this week or perhaps next if bulls are very persistent.
NFLX - Seeing an evening star forming on the daily and we’re well inside of a supply are where bulls have historically struggled. Provided the market does continue to weaken today I expect NFLX to follow. I’ll be watching for weakness after an initial rally for puts.