NFLX is brushing off glitches during its broadcast of the Jake Paul vs. Mike Tyson fight
Netflix Inc (NASDAQ:NFLX) stock is up 0.3% at $825.41 at last glance, amid news that Beyoncé will perform the halftime show in the Baltimore Ravens-Houston Texans Christmas Day game that the company will exclusively stream. Shares are reversing premarket losses that followed several glitches during its broadcast of the Jake Paul vs. Mike Tyson fight on Saturday -- its biggest live sports event ever.
The equity has taken a breather from its Nov. 14, record closing high of $837.26, but is still on track for its fifth win in the last six sessions. NFX is trading comfortably above its 20-day moving average after a brief dip below it in mid-October, and sports are up 69.5% lead for 2024.
Short-term options traders lean bearish. This is per Netflix stock's Schaeffer's put/call open interest ratio (SOIR) of 1.34 that sits higher than 94% of readings from the last 12 months.
Now looks like a good time to weigh in on NFLX's next moves with options. The stock's Schaeffer's Volatility Index (SVI) of 23% stands in the 2nd percentile of its annual range, meaning options traders are pricing in extremely low volatility expectations at the moment.