Call Buyers Pounce On Netflix Stock's Historic Month

Netflix stock has been red-hot in January

Managing Editor
Jan 29, 2018 at 3:09 PM
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Few stocks have had as hot a start to 2018 as Netflix, Inc. (NASDAQ:NFLX). The streaming giant has turned in only two negative sessions in January, and is currently riding a eight day winning streak. The FAANG name is higher again today, up 3.4% to trade at $283.80, and earlier touched a fresh record high of $286.81. The stock is riding higher on news that cable operator Altice integrated Netflix in its new set-top box. With this in mind, we decided check in on the stock's options activity. 

January has been a historically excellent month for NFLX, with four of the stock's best 10 months coming in January. This time around, the equity is pacing for its best month since January 2013, when the stock added 78.5%. Netflix stock has already added nearly 100% year-over-year, and 48% in 2018 thus far.

In the options pits, traders remain upbeat toward NFLX. Data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows the stock's 10-day call/put volume ratio at 1.31. 

Shifting gears to today, call buying has picked up. Roughly 105,000 calls have crossed the tape today, surpassing the average daily volume and pacing for the 93rd percentile of its annual range. Among the most popular are the weekly 2/2 280- and 285-strike calls, and it looks like NFLX options traders are purchasing new positions here. As such, some options traders are banking on Netflix to continue climbing with renewed vigor as February rolls around.


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