Buh Bye NFLX #CostBasisReduction Winner
My NFLX saga ends today…with a bottle of champagne after the close. After the last earnings report when NFLX soared, I got the “great” idea to buy 100 shares at $358 and sell DITM calls for a guaranteed win. Within days there was a massive crash. I took inspiration from seeing @fuzzballl accomplish significant cost basis reduction with patience and perseverance. I vowed I would stick with this until it was profitable. Every single week I sold calls, and bought put butterflies (BWB debit flies). Most of the time they brought in nice credits, there were a few weeks that were debit rolls (debit rolls would step back cost basis those weeks), but I steadily took Cost Basis from $358 to $272. Today I was able to close out the full position for a net $1547 gain.