To play Netflix Ing (NASDAQ: NFLX) is going earnings, looking for a stock that will move with the current stock, Marketfy’s Nic Chahine said on Tuesday on Benzinga’s YouTube show “PreMarket Prep.”
Option trading: Once Netflix opens after its earnings report on Tuesday afternoon, the implied volatility will disappear, Chahine said.
Chahine recommends playing one of the other “FAANG” stocks like Facebook Inc. (NASDAQ: FB) goes to the Netflix earnings report.
Facebook has had a nice pace recently, he said.
If Facebook falls back to $ 293, people are likely to be deterred, he said, adding that a move to $ 293 is a buy signal.
The stock would strengthen the floor, setting it up for a move to about $ 340, Chahine said.
Netflix is expected to report on earnings after Tuesday.
Related link: Benzinga Boot Camp Event Spotlight: Nic Chahine
FB, NFLX Price Action: Facebook was almost flat at $ 302.52 at the last check. Netflix shares fell 0.52% to $ 551.57.
See also: Netflix Kicks Or FAANG Earnings: Can Disney Enter Sympathy?
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