Options traders bet on new all-time highs for Netflix after earnings

  • 📰 CNBC
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 72%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Options traders see the streaming giant surging to new highs when it reports earnings after the bell on Thursday.

by 3 to 1, and the most active contract of the day pointed toward another big breakout to new highs.

"Some of the call action I was looking at were next week's 520-calls," said Khouw, "Those were trading for about $30. It looks like options traders may be targeting that $550 high we saw last week coming out of earnings." Those calls expire on July 24, and break even right around the $550 on the underlying stock. That's nearly 7% from where Netflix was trading Thursday morning. That level would be slightly higher than Netflix's all-time closing high of $548.73, but buyers of these calls are likely targeting an even larger breakout.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market live updates: Dow futures down 200, jobless claims disappoint, retail sales boomInvestors digested another batch of corporate earnings, while waiting for new data on the labor market.
Source: CNBC - 🏆 12. / 72 Read more »