Schaeffers Investment Research·2026-01-14 15:58Group 1 - Netflix shares have decreased by 1.6%, trading at $88.92, following a report of an all-cash offer for Warner Bros. Discovery valued at $83 million, which was previously deemed "inferior" by Warner Bros.' board [1] - Netflix stock has been on a downtrend since reaching a record high of $134.12 in late June, currently at its lowest level since April, despite a 7% increase over the last 12 months and only one weekly gain since December [2] - The options market shows a 10-day call/put volume ratio of 4.09, indicating a stronger appetite for bullish bets compared to bearish ones, higher than all other annual readings from the past year [3] Group 2 - Recent trading activity includes 129,000 calls and 33,000 puts, with the January 2026 92.5-strike call being the most popular contract, indicating new positions being opened [4] - The Schaeffer's Volatility Index (SVI) for Netflix is at 44%, suggesting that near-term option traders are expecting relatively low volatility, as this level is higher than only 13% of readings from the past year [5]