May. 27 at 1:09 AM
$NFLX showing some interesting action today
Despite a small dip of about 1 percent, we saw a massive July
$90 call sweep dominate the tape with 5,252 contracts at the ask
That's a hefty
$2.2M premium and it's pointing to some serious upside interest in the
$90 area
Over the last week, about two-thirds of options premium has been funneled into calls around the
$90 to
$100 strikes, stretching from late May to October
The downside puts like the June
$95P and July
$75P seem more like protection plays
So while there's some hedging, the bias is clearly leaning bullish
Feels like folks are quietly positioning for a move up rather than panicking
Keep an eye on this one
