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 (NASDAQ:FB) going into the Netflix earnings report.
Facebook recently had a nice breakout, he said.
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.
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FB, NFLX Price Action: Facebook was near-flat at $302.52 at last check. Netflix shares were down 0.52% at $551.57.
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