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Chart of the Day / Netflix (NFLX) Offering Opportunity

Netflix (NFLX) Offering Opportunity

July 17, 2018

Shares of Netflix (NFLX) may have taken a steep dive today after a big miss on subscriber growth. However, when it comes to this stock, it has a history of very big rebounds, which we’re beginning to see right now.

In fact, after falling $55 at the open, NFLX is only down $22 now.

What we’d like to see here is a potential bearish gap refill around $400, with a test of $420 not long after.  While options are pricey for NFLX here, you can always buy the NFLX August 17, 2018 390 calls, which last traded at $13.15.

Even the stock is a bargain here at $379.  It could be an interesting opportunity here.