Agree. It's been bouncing back well before hitting $200.
NFLX is far off its $248 peak. I suspect it has been such a powerful mojo mover (since Icahn's announcement) that some funds are happily in the money thinking it might zoom again.
No sensible person can deny Netflix's weak financial position, specifically cash flow. Nonetheless, the shorts have been wrong. Their bodies litter the landscape. They were saying 'overvalued' and 'BR in a few quarters' at $53. Shorting bare is always questionable. It has been a disaster in the case of Netflix.
The good thing is one strategy has worked consistently: distant out-of-the-money options playing volatility.