# Netflix traders bet on end to earnings volatility

> Options markets show unusual optimism ahead of Netflix earnings, with traders positioning for a major move after quarters of disappointment.
- Title: Netflix traders bet on end to earnings volatility · CNBC
- Summary: Options markets show unusual optimism ahead of Netflix earnings, with traders positioning for a major move after quarters of disappointment. Options traders…
- Keywords: netflix, options trading, earnings, stock volatility, financial markets, business, finance, traders, bet, end, volatility, CNBC
- Source: CNBC — https://cnbc.com/2026/10/20/traders-are-betting-netflixs-stock-drama-may-be-coming-to-an-end.html
- Author: Tyler Bailey
- Published: 2026-10-20T18:05:38+00:00
- Read time: 1 min
- Topics: netflix, options trading, earnings, stock volatility, financial markets, business, finance
## Netflix heads to earnings with stock down sharply
Netflix stock has fallen nearly fifty percent from all-time highs amid leadership changes, layoffs and a failed takeover bid. The company reports earnings today.
## Options traders expect a nine percent move
Current options prices imply a nine percent post-earnings move for Netflix, the highest since Q three twenty twenty-two when it was priced for an eleven percent move.
## Bullish bets replace pattern of disappointment
One and a half times more calls than puts were bought as of twelve pm ET Tuesday. The largest single trade was a seller of November twenty expiration seventy-strike puts for about two million dollars.
## Traders position for major upside surprise
Traders bought more than thirty-five hundred eighty-strike calls expiring Friday for over two hundred ten thousand dollars in premium. That requires Netflix to surge at least twenty percent by Friday to break even.
## Key takeaway

Options traders are betting Netflix's pattern of quarterly disappointments may end, with current prices implying a nine percent post-earnings move.