Netflix Options Spot-On: On November 27th, 129.39K Contracts Were Traded, With 620.66K Open Interest
On November 27th ET, $Netflix(NFLX.US)$ had active options trading, with a total trading volume of 129.39K options for the day, of which put options accounted for 45.31% of the total transactions,
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The proposed class action by netflix shareholders was dismissed by the judge, who had previously accused it of misleading user growth forecasts.
Gelonghui November 27th | According to Reuters, a judge on Tuesday dismissed a lawsuit brought by Netflix shareholders, accusing Netflix of downplaying the impact of account sharing on user growth. Account sharing refers to the practice of paid members sharing usernames and passwords with non-paying members of other households. This proposed class action lawsuit began two years ago, after Netflix revealed in April 2022 that it had lost 0.2 million users in the previous quarter, the first decline in a decade, and may lose another 2 million users in the next three months. Netflix at the time attributed the decline in users to several factors, including account sharing, intensified competition, and service disruptions caused by the Russia-Ukraine conflict.