Dan Nathan Is A Seller Of Netflix Ahead Of Earnings

On CNBC's "Options Action", Dan Nathan spoke about Netflix, Inc. NFLX, ahead of earnings report. The company is going to report earnings on Thursday after the market's close and the options market is implying a move of 8.5 percent in either direction. Over the last four quarters, its average move was 7.5 percent.

Nathan added that the implied move has come down after the huge move higher this week. He thinks the stock is going to trade between $15 to $20 lower and he would sell it.