ALTB - Open NFLX Earnings Trade APR21/MAY12 134/152.50

NFLX has an earnings announcement on Monday after the market closes. We are setting up this trade to use the high IV of the APR21 options to get a large credit that we are protecting with the lower IV MAY12 options. This allows us to create a profit on the trade as the short term IV collapses after the earnings announcement.