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Kevin Kelly of Recon Capital Partners recommended on Bloomberg Markets a bullish options strategy in Netflix, Inc. (NASDAQ: NFLX) ahead of earnings.
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The company is going to report earnings on Wednesday and Kelly wants to use a bullish risk reversal strategy to make money on the event. He wants to sell the January weekly, 128 strike put and buy the January weekly, 135 strike call for a total cost of $1.65. The trade breaks even at $136.65 or 2.83 percent higher. If Netflix drops below $128, Kelly is going to have to buy the stock at that price.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.