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Netflix (NFLX) stock is well off its highs and is good value now. NFLX is trading for $374.31 in morning trading on Friday, Oct. 6, which is well below its Sept. 11 high of $445.36 and the year-to-date high of $477.59 on July 19.
However, given Netflix's huge free cash flow (FCF), investors expect good results for Q3, expected to come out on Oct. 18. As a result, this is good for income plays like selling short out-of-the-money (OTM) put and calls options in near-term expiration periods.