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Barchart

Mark R. Hake, CFA

Netflix Stock is Still Cheap - Short OTM Puts and Buy LEAPs to Set a Lower Buy-In Target

Netflix NFLX Barchart ITM

Netflix Inc (NFLX) stock still looks undervalued based on its strong free cash flow (FCF) and FCF margins. My prior article shows that it could be worth over 15% more. However, to set a lower buy-in price, investors can short out-of-the-money puts and buy long-dated in-the-money (ITM) calls known as LEAPs (long-term anticipation securities).

NFLX is at $843.97 in midday trading on Monday, Nov. 18. In my last two Barchart articles on Oct 20 and 21, I set a $940 price target and said it could be worth as much as $975.

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