How important is Netflix's (NASDAQ:NFLX) deal with Walt Disney (NYSE:DIS)? Very, says Fool contributor Tim Beyers in the following video. The stock has more than doubled year to date on strong earnings and even stronger potential, including a presumed tailwind from nabbing streaming rights to new and old Star Wars films.

But it also isn't that simple. Not once since December has a Netflix executive uttered the phrase "Star Wars" at an investor conference. Why? Perhaps because the deal is so complicated. Streaming rights for new Star Wars fare that reaches theaters before 2016, when the Netflix deal goes into effect, should instead go to Starz.

If you're already a Netflix bull, this news won't (and shouldn't) change your thesis for buying, Tim says. Just be aware that some of the run-up may be due to incorrect ideas about Netflix's rights to stream Disney property. Stay cautious and build a position slowly.

Do you agree? Please watch the video to get Tim's full take, and then let us know whether you're buying, selling, or shorting Netflix stock and why.

What's in store for this stock?
Can Netflix fend off this burgeoning competition, and will its international growth aspirations really pay off? These are must-know issues for investors, which is why The Motley Fool has released a premium report on Netflix. Inside, you'll learn about the key opportunities and risks facing the company, as well as reasons to buy or sell the stock. The report includes a full year of updates to cover critical new developments, so make sure to click here and claim a copy today.

Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team and the Motley Fool Supernova Odyssey I mission. He owned shares of Netflix and Walt Disney at the time of publication. He was also long Jan. 2014 $50 Netflix call options. Check out Tim's Web home and portfolio holdings, or connect with him on Google+Tumblr, or Twitter, where he goes by @milehighfool. You can also get his insights delivered directly to your RSS reader.

The Motley Fool recommends and owns shares of Netflix and Walt Disney. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.