Netflix (NFLX) NewsBite - NFLX Falls on Insider Sale

Posted: Friday, November 06, 2009 11:17 AM EDT

Netflix (NasdaqNM: NFLX) opened at $54.87. So far today, the stock has hit a low of $54.00 and a high of $55.84. NFLX is now trading at $54.40, down $1.99 (-3.53%). Over the last 52 weeks the stock has ranged from a low of $18.23 to a high of $57.50. According to an SEC filing released last night, NFLX Director Gregory Strangre sold over 19,000 shares of NFLX on Wednesday for $54.48 per share. This could be a sign of bearishness on the stock. Technical indicators for the stock are bullish and S&P does not currently have a STARS rating for NFLX. If you are looking for a hedged play on NFLX the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 65 range. [ABR-Seven Summits Strategic Investments NewsBite]

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