Had to thank GG for this one. He was harping on NFLX being weak last Thursday so I had to try to protect my naked puts a little. Worked out OK…

Bought Jan monthly 110/105 put spreads @ .93 on Thursday.

Today…closed them for 2.58 for a gain of 1.65 and bought 105/100 put spreads @ 1.70. This leaves the 105/100 put spreads for a nickel debit. My kind of protection there!

Also Thursday rolled down this weeks short calls to 115 and 112 for nice credit.

So after all that it’s pretty much a wash on the losses on the short puts…so far so good.