Single Focus

Outside of Facebook (FB), I think just VMware (VMW) and me are into the numbers today. Sure, we have Netflix (NFLX), which I believe will see the $58 to $60 range on disappointment with $74 as my upside target. But I don't have a feel for NFLX at all. Subscriber growth will probably miss guidance and probably be lower, but expectations are already the same as a six-year old competing in the NBA slam-dunk competition. NFLX could show us an it-wasn't-as-bad-as-I-thought rally or an I-give-up selloff. I believe the post-earnings reaction will be the play.

I could also turn my attention to the food sector. Panera (PNRA), Brinker (EAT) and Buffalo Wild Wings (BWLD) are awaiting investors. I am tempted by the November $80-$70 put spread in BWLD for about $2.40, as I believe $75 is possible to the downside. This would be my play, and I may toss a few just for charting's sake, but I won't short PNRA. I would consider puts on EAT if the strikes were closer to the current price, but the risk-reward isn't there for option traders....151 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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