Netflix (NFLX) fell sharply following the report of its first-quarter results. So, now may be an opportune time to look at a long butterfly spread in Netflix stock by using put options.X With Netflix earnings now in the rearview mirror, traders have a chance to see what the next few months of motion might look like. The company offered sales guidance lower than Wall Street expectations and disclosed quarterly updates on net subscriber additions will end. Thus, the fade looks likely for this stock over the c ...