NFLX – Netflix, Inc. – Shares of the provider of DVD-rental-by-mail service as well as unlimited access to online streaming content to its subscribers rallied 3.85% to briefly touch a new 52-week high of $119.88 this morning. The rally in the price of the underlying stock tapered off slightly by 10:50 am (ET), although Netflix shares are still up more than 1.80% on the day at $117.53. Bullish options trading activity observed on Wednesday continued today, with investors selling put options and buying calls in the June contract. Investors expecting NFLX’s shares to trade above $115.00 through June expiration sold roughly 4,000 puts at the June $115 strike to pocket an average premium of $3.26 per contract. Traders anticipating continued appreciation in the price of the stock purchased at least 1,200 calls at the June $130 strike for an average premium of $0.90 each. Shares must surge 9.2% over the new 52-week high of $119.88 before call-buyers at the June $130 strike start to make money above the average breakeven price of $130.90. The overall reading of options implied volatility on NFLX is lower by 4.00% to 62.39% as of 10:55 am (ET).