Stacey Gilbert, head of derivative strategy at Susquehanna, notes that the options market implies a move of 8 percent for Netflix on earnings — which is lower than the stock's average post-earnings move. This could consequently provide a potentially attractive opportunity for options traders to play the stock.
"I think that's pretty interesting for a stock that's performed as well as it has year to date [and ] makes it interesting heading into an actual event where the stock could move," she said Thursday on CNBC's "Trading Nation." "It makes protection attractive for anyone who wants to take a shot at [Netflix], who feel like they've missed this opportunity."
Miller Tabak's Matt Maley has his eye on Bank of America. He believes the big bank, which reports earnings next Tuesday, is interesting as it could break out of its "sideways channel" that has played out the past few months.
"[Bank of America] hasn't been able to break above those March highs, and this is important because everybody is bulled up on the banks," the equity strategist said on "Trading Nation." "We had the great stress test results, we've had big dividend increases and buyback increases are very positive. But we'll see what happens after earnings."
A handful of big banks reported earnings Friday with Citigroup, JPMorgan and Wells Fargo all falling on the results. Netflix kicks off a slew of large-cap tech earnings that begin next week.