All eyes on Netflix
The first or two normal trading hours could be crucial later. Netflix may lead the pack and we may see a “tech rally”. This will then burn the Put premiums that bears bought over the last 2-3 days.
As for calls, those that were bought last week would have lost value earlier this week due to the selloff.
The above scenarios will benefit the market makers more than anyone else especially when today is Opex day.
On the flip side, if this is a headfake by Netflix, then various tech stocks will likely go down together.
Just my own thesis / narrative. Not financual advice.
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