One stock that's a favorite among day traders that's showing relative strength today is Netflix ( NFLX), which offers an Internet subscription service streaming television shows and movies as well as a DVD-by-mail delivery service (which earlier this week it announced it was spinning out into a separate service called Qwikster). Netflix has been hammered so far this year, with shares off by 26%. This stock has been absolutely crushed since printing its 52-week high in July at $304.79 a share; the stock is currently trading at around $129 share. Selling volume during the last five trading sessions has been enormous, with each session clocking in over 17 million shares traded. That massive volume is well above the stock's three-month average volume of 5.7 million shares. Clearly, some big traders wanted out of this stock as shares gapped down from $210 to a recent low of $125 a share in the last five trading sessions. That said, the stock might now be putting in a bottom; on a huge down day like today, the stock is actually trading higher. If you take a look at the chart for Netflix, you'll see that the stock hit a low yesterday at $125.02 a share, and today the stock has spent most of today above yesterday's $128.50 close. If this pattern holds, and NFLX doesn't trade below $125, then this stock has likely marked a near-term bottom that could be presenting a great buying opportunity. It's also worth pointing out that the relative strength index for Netflix is showing a reading of 18, which is an extremely oversold level. A stock can often rebound sharply off this level, as long as the price action stops its downtrend. If that $125 level holds, then that could be exactly what's happening here for Netflix. If you think NFLX has bottomed, then I would buy some near-the-money call options a few months out and play this stock for a sharp rebound. I would simply stop out of this trade if NFLX drops back below $125 a share on heavy volume. Netflix, one of TheStreet Ratings' top-rated Internet catalog and retail stocks, shows up on a recent list of 10 Stocks That Avoid the September Slump.