BLEH! Let’s Short Streamageddon

Thursday, April 28, 2022

Today's Top Mover
BLEH! Let's Short Streamageddon

Liz here, with a cautionary tale for bad children.

Am I a witch? Well, no, not exactly. But I am feeling a little extra green today.

On January 25, I set a $200 target for NFLX and theorized that it would lose 45% and get down to that level in three months.

Well, yesterday, on April 26 - after three months and one day - NFLX hit $200 and closed at $198. I took a screenshot to commemorate.

As you know, we have June 17 $100 puts open. We got in at 50 cents, they eroded to 5...and now, they're up to 56. NFLX continues to barrel downwards - as I write this on the afternoon of the 26^th, it's at $188. STAY TUNED!

I say all this, not to frighten you - well, maybe a little. (Margaret Hamilton, the Wicked Witch from the Wizard of Oz, spent her post-Oz career visiting schools explaining that she was really a nice kindergarten teacher. She even went on Mr. Rogers as a last-ditch attempt. Did children still think she was a witch? Why, yes, they did.)

But I do want to draw your attention to the death of streaming - and NFLX is just the beginning, really.

Do you have CNN+? You won't, at the end of this week.

But it's quite possible that you'll have a little extra green in your pocket.

Let's dive in!

Time To Play: 5 Mins

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