Netflix Shares Spike, Options Traders See More Runway Ahead

Netflix Inc. NFLX is scheduled to report earnings on Tuesday, after the closing bell.

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Netflix trading implied a move of around 12%, which is "in-line with the moves we have seen in the last eight quarters."

Check out other stocks making moves in the premarket.

There were buyers of 8,644 of the October 300 calls at an average price of $1.34 per contract, Khouw mentioned. Traders expect Netflix to rise by at least 23% by Friday. “A move of that magnitude hasn’t been posted by the stock following earnings since October of 2016,” he stated.

NFLX Price Action: Shares of Netflix rose by 6.57% to close at $245.10 on Monday.

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