Nic Chahine Recommends Playing A Different FAANG Stock Going Into Netflix Earnings

To play Netflix Inc NFLX going into earnings, look for an equity that will move with the streaming stock, Nic Chahine of Marketfy said Tuesday on Benzinga's YouTube show "PreMarket Prep."

Options Trading: As soon as Netflix opens after its Tuesday afternoon earnings report, the implied volatility is going to disappear, Chahine said. 

Chahine recommends playing one of the other "FAANG" stocks like Facebook Inc FB going into the Netflix earnings report. 

Facebook recently had a nice breakout, he said. 

Related content: Benzinga's Full Earnings Calendar 

If Facebook falls back to $293, people will likely freak out, he said, adding that a move to $293 will be a buy signal.

The stock would be "solidifying the flooring," which sets it up for a move to somewhere around $340, Chahine said. 

Netflix is scheduled to report earnings Tuesday after the close. 

Related Link: Benzinga Boot Camp Event Spotlight: Nic Chahine

FB, NFLX Price Action: Facebook was near-flat at $302.52 at last check. Netflix shares were down 0.52% at $551.57. 

See Also: Netflix Kicks Of FAANG Earnings: Could Disney Move In Sympathy?

Image by Firmbee from Pixabay.