NFLX December 65/60 put spread: post-earnings weakness

Buy the December 18 $65 put and sell the $60 put. The $65 put drew $733K across eight sessions, with open interest up 69%; price remains below falling daily averages after earnings. Target $60 by November 27, taking partial profits near $62. Exit on a daily close above $66.55 or a 50% spread loss. Reassess November 6 without a break below $64.10. An oversold rebound is the main risk; the debit is the maximum loss and gains are capped.

• NFLX, put debit spread, 3-8 weeks, opened Oct 26, 2026. It closed at 45.6%.

Updated 2026-11-02 17:12 UTC