October 21, 2026

Scott Bauer’s NFLX Put Spread

Scott Bauer joins Schwab Network to break down a bearish diagonal put spread on Netflix (NFLX) after earnings and explain why he sees the stock drifting lower from here.

Scott covers:

  • Why he sees no near-term catalyst for NFLX and what he expects the stock to do next
  • How IV crush after earnings actually made this the right time to put the trade on
  • His exact diagonal put spread structure and why he built it this way
  • The expiration dates he chose and what that tells you about his timeline on this trade

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about the author:

Scott Bauer

A respected market commentator seen on Bloomberg, Fox Business, CNBC and other major financial networks, Scott Bauer has 30+ years of professional equity and index options experience at the Chicago Board Options Exchange (CBOE) and Chicago Mercantile Exchange (CME) and as a Vice-President/trader for Goldman Sachs. Scott graduated with Honors from the University of Illinois Business School and has taught classes both at his alma mater and at the CBOE.

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