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Take your position: Netflix earnings

Netflix stock is down 9 percent so far this year, but does that mean it's a bargain?

The "Fast Money" traders debated whether to buy battered streaming media company's stock ahead of Tuesday's earnings.

Trader Dan Nathan was hesitant to recommend Netflix to investors.

"Shocklingly, it's down less than the Nasdaq," said Nathan. "Sentiment is not great. They'll likely have a lot of costs associated with this 130 country roll-out."

Wait to make the decision until after the earnings report, he said.

Trader Guy Adami said he would be a buyer into earnings.

"I still think the growth they're seeing—given the sell-off that we've seen—will surprise people to the upside," Adami said.

Trader disclosure: On January 15, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Dan Nathan is long WMT Feb Put Spread, long PFE buy-write, long VZ Buy-write, long XLU Feb Call Spread, long QCOM Feb Calls, long UUP, long TWTR, long TLT Apr risk reversal; he is short SPY. Steve Grasso is long AAPL, AEO, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long CXO, OXY, BP, CVX, RIG, AMZN kids own EFA, EFG, EWJ, IJR, SPY. Brian Kelly is long BBRY, Bitcoin, GDX, GLD, TLT, US Dollar, SLV; he is short British Pound, CS, DB, Euro, EWH, SPY, UBS. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.