Dec. 14 at 2:09 AM
What's up with
$NFLX lately?
Options flow is wild
We've got a big build-up in deep ITM puts after a 4.7% drop this week
Friday's little bounce is hedged with a lot of downside exposure
On 12/11, someone likely big moved in and bought a huge strip of Dec 19 puts, over
$90M in premium
That's serious downside protection that could pressure the stock if it stays weak
Options volume was hot, about 1.6 times the usual pace
Fifty-six percent of it was in puts, short-dated sweeps
New longs are fighting a defensive market
The only bullish action is some far-dated calls for 2026