Netflix stock has lost nearly 50% from its all-time highs, weighed down by executive changes, layoffs and a failed takeover bid. Options traders are pricing in a 9% post-earnings move, the highest since Q3 2022. The bullish consensus is reinforced by 1.5 times more calls bought than puts, and massive trades like the sale of 70-strike puts for approximately $2 million. Traders appear to be betting that Netflix’s streak of quarterly disappointments may finally be ending.
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