I'm seeing a pretty good ascending triangle open up short term on NFLX. This is a continuation pattern and if it breaks, it should break above that resistance at 33.
That 33 area does have some serious resistance in the long term, however:
So what sort of plays can we look at? The best bet I think is to wait on the break of the upside resistance and then get into some calls at the 32.5 strike price. If we hit that 33 area I'll look at the price action and if I see weakness, I'll sell some front month calls at the same strike price. With that play you can start picking up some pretty good theta. I want to keep this as a trade and not a long-term hold as the market conditions can change at any moment.