Netflix (NFLX) provides a valuable service to humanity: recycling old movies and TV shows for people who are out of work, out of imagination, or out of anything more productive to do.

NFLX’s service profile is broader than any of the cable networks and, in its recent earnings announcement, which included an upside surprise the size of the state of Michigan, we learned it was raising prices. It looks to me like all the good news is in the price of NFLX shares already and, if the market weakens overall, Netflix should get bludgeoned like an unlucky crook in its homemade prison chick series, “Orange Is the New Black.”  If I’m right, maybe investors will help them start a new series called “Red is the New Green.”

Here’s how I recommend playing short-term weakness in NFLX:

Buy to open the NFLX Aug. 21st $110 puts (NFLX150821P00110000) at $2.90 limit, good till canceled. There are several expiration dates available for the August series, so be sure to buy to open the puts that expire on Aug. 21, 2015.

When you’re filled, set up to sell half the position at my initial target of $4.10, and then sell the second half of the NFLX puts at my final target $5.25. I like to let the opening-bell dust settle first, so set a stop at $1.75 limit, good after 11 a.m. ET only.

Jon Markman writes a daily trading newsletter, Trader’s Advantage, and CounterPoint Options, a service geared towards helping individual traders make steady, consistent profits with the VIX. Follow him on Twitter for his latest take on markets and innovation, and be sure to check out his Top Stock for 2015 here.