Investors bet on Netflix share bump
Bullish options activity on Netflix Inc. picked up steam as investors anticipated further share gains ahead of the online DVD-rental company's upcoming fourth-quarter earnings announcement, analysts said Tuesday. Netflix is expected to reveal plans for a movie-downloading service when it announces financial results in late January amid intense competition from larger rival Blockbuster Inc. and from the small but growing online movie-download industry. "The stock has had a 10% correction in the past 10 days. So it could be that investors are buying calls to take advantage of the stock's recent sell-off as well as a shot for earnings," said Jon Najarian, co-founder of Web information site OptionMonster.com. Netflix shares rose 2.4% on Tuesday to $26.84.