Options Activity Muted as Netflix Approaches the 50-Day (NFLX)

Shares of Netflix, Inc. NFLX are lower on the session by 1.36%, currently trading at $177.58. The stock has been moving largely lower over the past month since hitting an all-time high of $209.24 on December 1st. Shares are now approaching the 50-day moving average, at $175.06. While this level should be supportive, there has been little options activity to back up such claims. Within the first three hours of trading, only 22k calls have traded versus 26k puts. NFLX typically trades 50k calls each session. If shares are going to hold this level, call volume should start to rise; if not, then shares may be headed lower, to the next support level, which is at $150.00. Netflix, Inc. is a subscription service streaming movies and television episodes over the Internet and sending digital versatile discs by mail to more than 12 million subscribers. The company's subscribers can watch unlimited movies and television episodes streamed to their televisions and computers, and can receive DVDs delivered to their homes.