Option traders moderately bearish in Netflix (NFLX), with shares down $4.71 near $1157.82. Options volume running well above average with 89k contracts traded and puts leading calls for a put/call ratio of 1.09, compared to a typical level near 0.86. Implied volatility (IV30) dropped 0.63 near 43.84,in the top quartile of the past year, suggesting an expected daily move of $31.97. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Netflix (NFLX) will report earnings after the close on None.Option markets are pricing in a 50% probability of a move greater than 0.0% or $0.00.
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