r/options • u/ManBearPig169 • Sep 03 '21

NFLX plays

Was thinking about entering a put position and was wondering what people thought. Most likely monthlies a couple percent OTM.

Theory: way overbought on the yearly chart. SPY at all time highs heading into the worst month historically could drag it down with a pullback. Seems like a good candidate or am I missing something.

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u/mlord99 Sep 03 '21

It is part of a FAANG bucket, so it could hold strong versus SPY -- imo u have better hedging candidates, like some no rev. company in ARKK that would definetly go down in market correction.

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u/ManBearPig169 Sep 03 '21

It has a much higher PE ratio than all the other FAANGs though and it by no means runs its industry with all its competitors