Long

Netflix Q3 Earnings

Updated

NFLX Q3 September 2023 earnings are on Wednesday 10/18/23 at 4pm. Netflix (NFLX) reported earnings of 3.29 per share on revenue of 8.19 billion for the second quarter ended June 2023. The consensus earnings estimate was 2.83 per share on revenue of 8.27 billion. The company beat expectations by 13.84% while revenue grew 2.72% on a year-over-year basis. The company said it expects third quarter earnings of approximately 3.52 per share on revenue of approximately 8.52 billion. I'm posting this as a long because of the setup with NFLX price at its VWMA200 level.

Q3 September 2023 Consensus:
EPS = 3.47
Revenue: 8.43B

VWMA 50 = 409.41
VWMA100 = 417.44
VWMA200 = 369.33
YTD anchored VWAP = 374.60

TTCATR20:
R3 = 424.27
VWMA20 = 385.69
S3 = 347.10

Options data:
10/20 expiry
Put Volume Total 14,812
Call Volume Total 15,144
Put/Call Volume Ratio 0.98
Put Open Interest Total 82,510
Call Open Interest Total 67,499
Put/Call Open Interest Ratio 1.22
highest open interest call strike = 390
highest volume call strike = 370
highest open interest put strike = 350
highest volume put strike = 365

Note

10/12/23 CPI update:
If the stock market drops from the bond market reaction to CPI, the next NFLX long entry level could be at S3 = 347.10

Note

10/12/23 snapshot update:
NFLX 1hr chart before earnings on Wednesday 10/18/23 at 4pm.
TP = 395
SL = 360

Note

10/12/23 snapshot update:
NFLX 4hr chart before earnings on Wednesday 10/18/23 at 4pm.
Long = 365
TP = 395
SL = 360
YTD AVWAP = 375

Note

Following a tentative agreement, The Writers Guild of America voted to end the strike on September 27, 2023. On October 9, 2023, the WGA membership officially ratified the contract with 99% of WGA members voting in favor of it. Ending the 148-day work stoppage that crippled productions across the industry.

Note

On Oct. 2, for the first time since the strike began July 14, the Screen Actors Guild-American Federation of Television and Radio Artists had resumed negotiations with the Alliance of Motion Picture and Television Producers, which represents studios, streaming services and production companies in strike talks.

LOS ANGELES (AP) — Talks bitterly broke off between Hollywood actors and studios late Wednesday, killing any hopes that the three-month strike by performers would come to an end anytime soon.

Note

Still long

Trade closed: stop reached

359 stop loss

Note

10/13/23 NFLX snapshot update:

Note

10/16/23 trade idea update:
Long 355
Stop 350
Profit 385

Note

10/18/23 NFLX update options data:

10/20 expiry
Put Volume Total 17,929
Call Volume Total 16,512
Put/Call Volume Ratio 1.09
Put Open Interest Total 97,639
Call Open Interest Total8 9,512
Put/Call Open Interest Ratio 1.09

Note

10/18/23 NFLX snapshot update:

Note

NFLX hit 345

Note

NFLX earnings in 15 minutes

Note

Netflix beats!
EPS 3.73
Revenue 8.45B
8.76M subscribers added

Note

NFLX hit 385

Note

NFLX post market high 392

Note

10/19/23 update:
NFLX spiked to 408.95
Calls up +300% - 400%

Note

10/19/23 snapshot update:

Note

10/20/23 PSA:
Everyone knows the probability is to wait 3 days to short after a big earnings pop.

Note

10/27/23 NFLX look like its rolling over from its earnings pop

Note

10/27/23 snapshot update:

Options360

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