my best guess is that some powerful players manipulated the price down to lock in very cheap long position(s) for earnings. Hard to interpret it any other way.
Or it is Wednesday. The calls are blown out then the puts are blown out. I bet it ends red, and possibly under 110. Take away the first 30 minutes and it looks like a daily chart -- up in the morning, tanking in the afternoon. Bigger range, but still the same. The hecklers have you spooked.
Very smart analysis. I am with you on this one. MM tries to scrape profit on both longs and shorts. Taking advantage of the greed mentality on both side of trades. Importance is to trade this stock based on facts and outlook. The company issued earning warning a month ago. They think the traders will forget a month later with the warning and try to average it up. The earning raise today is a beautiful set up before the big plunge.
actually. i want to correct myself. There are other ways to interpret. it could just be a play to run this up pre-earnings because NFLX has proven that longs love to buy high and sell low. When the stock drops they actually STOP buying. This churns things and gets eveyone buying which makes the MM money. With spreads like these, more volume=massive profit.