Netflix(US:NFLX) Zhi Tong Cai Jing·2026-02-26 00:41Group 1 - A mysterious trader has established a unique position worth nearly $14 million, betting that Netflix (NFLX.US) stock may rise even if it loses the bid for Warner Bros. Discovery (WBD.US) [1] - The trader bought 55,000 call options for Netflix with a strike price of $90 expiring in May, while simultaneously selling the same number of $105 call options, resulting in a total premium expenditure of $13.8 million [1] - Following a competitive bid from Paramount Global (PSKY.US) at $31 per share, Netflix's stock surged 6%, marking its largest single-day gain since April [1] Group 2 - If Netflix's stock price rises by 30% before the May 15 options expiration, the theoretical maximum profit from this position could reach $68 million [2] - Analysts suggest that this indicates investor expectations that Netflix may choose to terminate the deal actively, with reports of Netflix CEO Sarandos visiting the White House to discuss the acquisition, interpreted as a signal that Netflix may not have fully abandoned the idea of raising its bid [2]