NFLX Netflix: Toppy bear market set to quake tech stocks

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	Mike Barkett
	Washington, DC User since Nov 2007	52
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Toppy bear market set to quake tech stocks

Playing the bear's advocate on what seems to be the market's most divisive stock, FogDog.co... err, I mean, NFLX. Gonna dip below 200 before May options expiration just as it dipped below 100 the last time it re-tested an all time high and failed, which was July of last year. Coincidentally, that was not long after I wrote my infamously bad (so far) "hyperbolic" short that wasn't so bad for a little while there. Keeping it open because there's still over a year left. Perspective, people.

The title is my attempt at a typical alarming stock market website headline. It is the headline equivalent of Stimpy's taunt in the Mad Dog Hoek episode, which seems pretty appropriate for all NFLX related coverages and associated bluster.

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What People Are Saying...

David Sachdev agreed at 4/12/11 1:15 PM Price action was $231.88 3.89 (+1.7%)

I've been thinking about this one too....Maybe it is time to execute!

David Sachdev said at 4/12/11 2:18 PM Price action was $233.17 5.01 (+2.2%)

The premium on in-the money puts was just a bit too high for my blood - what did you buy or sell?

Josh Warner-Burke said at 4/15/11 4:06 PM Price action was $235.11 -1.62 (-0.7%)

Netflix will announce Q1 2011 earnings after market close on April 25th, 2011 followed by a Q&A session at 6pm. Anyone can listen to the Q&A session at http://ir.netflix.com

Mike Barkett said at 4/26/11 4:38 PM Price action was $228.91 -22.76 (-9.0%)

@David I got a few 205 May puts, which will be a lesson learned. I thought if we got anywhere near 225 then I'd be break-even, but it's not even close. Right now the derivatives are heavily bullish, despite today's actions. The only truly worthwhile play on puts would have been near-the-money purchased as close to earnings day as possible. Consider it a lesson learned. Still hoping for this bubble to deflate a bit more and maybe take away a little profit by turning my OTM into ITMs.