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Netflix Gets into the Picture

Traders are trying to determine if Neflix is looking to blaze new trails, after reports surfaced of a new and potentially profitable deal.

Specifically, Netflix is negotiating for the Internet streaming rights to a new series called "House of Cards," starring Academy Award-winning actor Kevin Spacey.

If a deal is struck, the first 26 episodes of the series would be made available to Netflix's 20 million subscribers before it's shown on TV.

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The Street sees the move as a bold step forward; the series would signal Netflix Inc. is getting more serious about competing against pay-TV channels HBO and Showtime, which for years have depended on exclusive series to attract customers.

What should you make of these developments?

Len Brecken of Brecken Capital calls it a last ditch effort to generate cash. He's short and convinced that investors just don't get it. He thinks Netflix should trade much closer to $70.

Find out why. Watch the video now!




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Trader disclosure: On March 17, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders;

finerman's firm is short (iwm); finerman's firm is short (mdy); finerman's firm is short (spy); finerman's firm is short (xrt); finerman's firm is long s&p 500 puts; finerman's firm is long russell 2000 puts; finerman's firm and finerman own (aapl); finerman's firm owns (bac) leaps, finerman owns (bac); finerman's firm and finerman own (cvs); finerman owns (goog); finerman's firm and finerman own (hpq); finerman's firm owns (ibm); finerman's firm owns (jpm) leaps, (jpm); finerman owns (jpm); finerman's firm owns (mcd); finerman's firm and finerman own (msft); finerman's firm is short (spy); finerman's firm owns (tgt); finerman owns (uso); finerman owns (ung); finerman's firm owns (wmt)

terranova owns (vrts); terranova owns (c); terranova owns (gs); terranova owns (pnc); terranova owns (usb); terranova owns (jpm); terranova owns (upl); terranova owns (cree); terranova owns (ms); terranova owns (pbr); terranova owns (bax); terranova owns (teva); terranova owns (ibm); terranova owns (btu); terranova owns (cnx); terranova owns (pot); terranova owns (flx); terranova owns (xom); terranova owns (dis); terranova owns (mcd); terranova owns (cve); terranova owns (cvi); terranova owns (cnq); terranova owns (rsx); terranova owns (su); terranova owns (Fcx)

adami owns (agu); adami owns (btu); adami owns (c); adami owns (gs); adami owns (intc); adami owns (msft); adami owns (nue)

jon najarian owns (aapl), is short (aapl) calls; jon najarian owns (brk.b), is short (brk.b) calls; jon najarian owns (cboe), is short (cboe) calls; jon najarian owns (cme), is short (cme) calls; jon najarian owns (nyx), is short (nyx) calls; jon najarian owns (cnx), is short (cnx) calls; jon najarian owns (crm), is short (crm) calls; jon najarian owns (chs), is short (chs) calls; jon najarian owns (cstr), is short (cstr) calls; jon najarian owns (hk), is short (hk) calls; jon najarian owns (kwk), is short (kwk) calls ; jon najarian owns (mtw), is short (mtw) calls; jon najarian owns (nyx), is short (nyx) calls; jon najarian owns (paas), is short (paas) calls; jon najarian owns (slv), is short (slv) calls; jon najarian owns (wnr), is short (wnr) calls; jon najarian owned (wmt), was short (wmt) on 2/15/11 ; jon najarian owns (jrcc), is short (jrcc) calls

For Brian Kelly
Accounts Managed By Kanundrum Capital own (FXY) puts
Accounts Managed By Kanundrum Capital own (NFLX) puts
Accounts Managed By Kanundrum Capital own (UUP)
Accounts Managed By Kanundrum Capital own (TLT)
Accounts Managed By Kanundrum Capital own U.S. Dollar Index
Accounts Managed By Kanundrum Capital own (GLD)
Accounts Managed By Kanundrum Capital own (SLV)
Accounts Managed By Kanundrum Capital own (VLO)
Accounts Managed By Kanundrum Capital own (EWJ) calls and (EWJ) puts
Accounts Managed By Kanundrum Capital are short (EWJ)
Accounts Managed By Kanundrum Capital are short S&P Futures.
Accounts Managed By Kanundrum Capital are short (IXG)
Accounts Managed By Kanundrum Capital are short (XLF)
Accounts Managed By Kanundrum Capital are short (LOW)
Accounts Managed By Kanundrum Capital are short (EWY)

For Joe Terranova
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (CCG)
Virtus Investment Partners Owns More Than 1% Of (CASS)
Virtus Investment Partners Owns More Than 1% Of (CSVI)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (FCFS)
Virtus Investment Partners Owns More Than 1% Of (KRC)
Virtus Investment Partners Owns More Than 1% Of (LDR)
Virtus Investment Partners Owns More Than 1% Of (LPHI)
Virtus Investment Partners Owns More Than 1% Of (NCRI)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (XLE)
Virtus Investment Partners Owns More Than 1% Of (XLF)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLK)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (SUBK)
Virtus Investment Partners Owns More Than 1% Of (WDFC)
Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of (DOM)

For Andy Busch
**No Disclosures

For Carter Worth
**NO DISCLOSURES

For Anthony Scaramucci
SkyBridge Capital Is A Fund Of Funds Manager
Funds Held May Or May Not Own The Recommended Securities

For Len Brecken
Brecken Is Short (NFLX)

SOT Brian Meredith ( 3/17/2011)
**No Disclosures

For Scott Nations
Nations Is Long S&P Implied Volatility

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