If consumers continue to turn away from traditional cable, "Netflix is the place to be," contended trader David Seaburg. Still, the meteoric rise of its shares—which have climbed 123 percent this year—has scared some investors away.
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Trader Dan Nathan contended Time Warner—which holds popular series produced by HBO—is a better play on content than Netflix, especially because of its valuation. The stock has fallen nearly 18 percent this year.
Dan is long AMAT Jan call spread, BA Oct put spread, CSCO Jan calls, EEM Dec put spread, INTC Dec put spread, M long Jan calls, XLF Dec put spread, IWM Dec put spread, XLI Dec put spread, XLU Dec call spread, TWTR March call spread, TWTR
Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc
Brian Kelly is long BBRY, GLD, Bitcoin, Hong Kong Dollar, US Dollar; he is short Yuan, British Pound, Candaian Dollar, Euro, Yen, EEM, EWC, EWH, EWU, EWG, SPY
Karen is long BAC, C, FL, GOOG, GOOGL, JPM, KORS, KORS call spreads, M, URI, she is short SPY, Her firm is long ANTM, AAPL, BAC, C, DIS, DIS puts, FL, GOOG, GOOGL, GPS, JPM, KORS, KORS call spreads, M, M calls, M call spreads, M puts, MA, SUNE, SUNE call spreads, URI, URI long puts, WFM her firm is short IWM, SPY, MDY, USO, XRT, Karen Finerman is on the board of GrafTech International.