Netflix (NFLX) shares pulling back to the top of monthly value and bouncing back above its 8- and 21-EMA last week with shares showing overall relative strength. NFLX has been in a strong trend and a breakout move back above $700 has room to run with a short-term measured move of $755. Options flow has been bullish, too, including buyers in the December $685 calls, December 10^th (W) $650 calls, and February $760 calls. The December $650/$700 call spread was bought 1500X on 11/5.

Trade to Consider: Long the NFLX January $675/$700 Call Spread for $11.75