Deep-pocketed investors have adopted a bullish approach towards Roku ROKU, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in ROKU usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 71 extraordinary options activities for Roku. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 49% bearish. Among these notable options, 32 are puts, totaling $1,883,906, and 39 are calls, amounting to $2,204,666.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $40.0 to $120.0 for Roku over the recent three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Roku's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Roku's whale activity within a strike price range from $40.0 to $120.0 in the last 30 days.
Roku 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ROKU | CALL | TRADE | BULLISH | 03/15/24 | $95.00 | $308.0K | 1.3K | 423 |
| ROKU | PUT | TRADE | BEARISH | 04/19/24 | $95.00 | $195.9K | 836 | 179 |
| ROKU | PUT | SWEEP | BEARISH | 01/17/25 | $100.00 | $149.1K | 491 | 229 |
| ROKU | PUT | TRADE | BEARISH | 05/17/24 | $95.00 | $138.2K | 186 | 110 |
| ROKU | PUT | TRADE | NEUTRAL | 03/15/24 | $85.00 | $133.2K | 905 | 487 |
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.
Having examined the options trading patterns of Roku, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Roku
- With a volume of 4,788,588, the price of ROKU is up 0.67% at $91.85.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 0 days.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Roku, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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