With NFLX reporting earnings yesterday, there’s been a ton of noise around the Warner deal headlines, but the market reaction was pretty clear. They beat on both revenue and EPS (about $12.05B vs $11.97B est, EPS 0.56 vs 0.552 est), yet the stock still sold off roughly 4–5% after hours.
Because of that, I’m sticking with the wheel. I’ve been selling puts when IV spikes and letting premium do the heavy lifting, since NFLX still feels more choppy/range-bound than trending. Post-earnings IV should cool off, so I’m just waiting for better pricing before adding more.
Anyone else wheeling NFLX here, or playing it a different way?