Netflix (NASDAQ: NFLX) shares getting hammered today on news that the Gaddafi Brothers have vowed to stop paying the $8 a month streaming fees until the protestors get off their lawn. Oh, and also a big downgrade.

Options trading investors have seen relatively high volume in NFLX Weekly options this morning. Two hours in and volume in the Weekly 220 calls have already exceeded the open interest (OI) in any nearby March call (only the March 240 calls have higher OI). Big interest in the NFLX Weekly Feb. 210 Puts as well. Options a buy here in NFLX in my humble opinion, though I’d sooner own March at mid-high 40’s volatility than the Weeklys imho.

Priceline.com (NASDAQ: PCLN) noteworthy for almost the opposite reason. Complete disinterest ahead of tonight’s earnings. The Weekly 430 line has traded a total of about 250 contracts. Total. That actually exceeds the total open interest, so no one’s feeling it here. In all fairness, that straddle goes for just under $40 ahead of the number, and that’s assuming you can get a reasonable leg on markets that are $1 wide, bid to offer. What’s also interesting is that the PCLN March 430 Straddle only trades about $10 over the Weekly one. You really can’t leg four sides of a spread here without monster slippage, but I gotta think if you’re looking to buy options into earnings, go with March, and if you’re a seller, use the Weeklys.