Netflix Stock (NFLX) Stock Tanks in Premarket Trading

Date: 9/15/2011

Live "premarket trading" video on how to trade Netflix's Stock on the gap down. Live options expiraiton trading strategies on getting wholesale enteries intraday on puts and calls. NFLX put in a premarket low of $171.52 and has since rallied up to $179.83. This news comes just 1 day before options expriation and we'll be keeping a close eye on the intraday price action and how to trade this massive gap down of $28.81 or 13.8%.

Netflix is lowering its U.S. subscriber expectations for the third quarter because of customer losses relating to a split of its DVD and streaming options.

The company, which separated its streaming and DVD-by-mail services two months ago, said Thursday it now expects 21.8 million subscribers for its streaming-only service and 14.2 million subscribers to get DVD plans. That's down from a late July estimate of 22 million streaming customers and 15 million DVD subscribers. It sees the most subscriber decline in DVD-only plans. That forecast went to 2.2 million from 3 million.

It backed its forecast for international subscribers and overall third-quarter earnings. The Los Gatos, Calif., company said that despite the revision, it thinks the split was the right move. Shares of Netflix slipped 16 percent in premarket trading.

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