On CNBC's "Options Action," Michael Khouw of Optimize Advisors said Netflix Inc. NFLX traded at two times its average daily call volume on Monday, with some tailwinds in sight.
The streaming company has been facing the perfect storm, with stiffening competition and consumers cutting back on discretionary spending amid soaring inflation.
Check out other stocks making moves in the premarket.
There were buyers of 36,456 of the November weekly 310 calls at an average price of $4.65 per contract, Khouw mentioned. Traders expect Netflix’s stock to rise around 5% by Friday expiration, he added.
NFLX Price Action: Shares of Netflix were trading 3.77% higher at $310.55 Tuesday. The stock has lost close to 50% year to date.
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