Apr. 19 at 9:08 PM
$NFLX got hammered after earnings, down 9.7% on weak Q2 guidance and governance worries
That’s on top of a 5.6% slide over five days
Market’s not messing around, aggressively repricing lower
Call buying was wild before earnings, about 3.6x normal volume, mostly May to July buys
But now that bullish flow is stale with this selloff
Those big buys like the
$12.7M July
$140C aren’t fresh signals anymore
Put flow was light, only about 11% meaning the market was more speculative than hedged
Watch for potential catch-up put buying, keeping IV high
Be careful with naked short-premium trades here