u/Yogurt-Short

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When companies report earnings, usually the price of the stock changes almost immediately. For example, two days ago Netflix released their earnings and the stock plummeted less than 20 seconds after the earnings call began. I don't understand how that is possible, how do traders know how to trade what to do before the financial facts are even reported during the call? Are there documents that are made public immediately when the earnings call begins? Or is this a case of speculation being right?

I was looking through Trading View and I found a bond with a 423% YTM that expires in 7 months. I checked the SEC filing and it says the threshold is the S&P 500 going below 2,622.40 (it was filed in 2019). This seems way too good to be true, can anyone please tell me what the catch is?

https://preview.redd.it/ywyl3lk6csug1.png?width=3500&format=png&auto=webp&s=f4899161cf99c8f18e5379950acb8fb5fe8305e1

https://preview.redd.it/477tms2zbsug1.png?width=3809&format=png&auto=webp&s=17efa11d2bd2837030769c44fa8686e46d821313