High-rolling investors have positioned themselves bearish on Roku ROKU, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in ROKU often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for Roku. This is not a typical pattern.
The sentiment among these major traders is split, with 37% bullish and 62% bearish. Among all the options we identified, there was one put, amounting to $29,920, and 7 calls, totaling $324,450.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $87.0 to $100.0 for Roku during the past quarter.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Roku's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Roku's significant trades, within a strike price range of $87.0 to $100.0, over the past month.
Roku Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ROKU | CALL | TRADE | BEARISH | 12/20/24 | $90.00 | $104.2K | 124 | 0 |
| ROKU | CALL | SWEEP | BULLISH | 03/15/24 | $100.00 | $45.5K | 846 | 14 |
| ROKU | CALL | TRADE | BULLISH | 03/15/24 | $100.00 | $45.1K | 846 | 209 |
| ROKU | CALL | SWEEP | BEARISH | 02/16/24 | $87.00 | $34.6K | 152 | 73 |
| ROKU | CALL | TRADE | NEUTRAL | 03/15/24 | $95.00 | $34.4K | 435 | 14 |
About Roku
Roku is the leading streaming platform in the U.S. by hours watched with 87.4 billion hours of content streamed in 2022. The firm's namesake operating system is used not only in Roku's own hardware but in cobranded TVs and soundbars from manufacturers like TCL, Onn, and Hisense. Roku generates revenue from advertising, distribution fees, hardware sales, OS licensing, and subscription sales.
After a thorough review of the options trading surrounding Roku, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Roku's Current Market Status
- Currently trading with a volume of 707,987, the ROKU's price is up by 0.43%, now at $89.03.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 13 days.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Roku with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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