Whales with a lot of money to spend have taken a noticeably bearish stance on Netflix.
Looking at options history for Netflix NFLX we detected 36 trades.
If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 69% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $374,535 and 28, calls, for a total amount of $1,328,414.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $300.0 to $800.0 for Netflix during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Netflix stands at 701.71, with a total volume reaching 15,253.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Netflix, situated within the strike price corridor from $300.0 to $800.0, throughout the last 30 days.
Netflix Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NFLX | CALL | TRADE | BEARISH | 04/12/24 | $23.0 | $20.1 | $21.0 | $620.00 | $157.5K | 692 | 7 |
| NFLX | PUT | TRADE | BEARISH | 01/16/26 | $31.45 | $30.9 | $31.45 | $440.00 | $94.3K | 130 | 30 |
| NFLX | CALL | SWEEP | NEUTRAL | 04/05/24 | $3.4 | $3.35 | $3.35 | $640.00 | $94.0K | 1.8K | 868 |
| NFLX | CALL | TRADE | NEUTRAL | 09/20/24 | $93.0 | $88.8 | $91.14 | $600.00 | $82.0K | 1.3K | 9 |
| NFLX | PUT | TRADE | BULLISH | 05/17/24 | $36.35 | $36.0 | $36.13 | $635.00 | $72.2K | 196 | 85 |
About Netflix
Netflix's relatively simple business model involves only one business, its streaming service. It has the biggest television entertainment subscriber base in both the United States and the collective international market, with almost 250 million subscribers globally. Netflix has exposure to nearly the entire global population outside of China. The firm has traditionally avoided live programming or sports content, instead focusing on on-demand access to episodic television, movies, and documentaries. The firm recently began introducing ad-supported subscription plans, giving the firm exposure to the advertising market in addition to the subscription fees that have historically accounted for nearly all its revenue.
Having examined the options trading patterns of Netflix, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Netflix Standing Right Now?
- With a volume of 891,002, the price of NFLX is up 0.3% at $632.0.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 14 days.
Professional Analyst Ratings for Netflix
5 market experts have recently issued ratings for this stock, with a consensus target price of $685.0.
- An analyst from Wedbush persists with their Outperform rating on Netflix, maintaining a target price of $725.
- Consistent in their evaluation, an analyst from Jefferies keeps a Buy rating on Netflix with a target price of $700.
- An analyst from Loop Capital persists with their Buy rating on Netflix, maintaining a target price of $700.
- Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Netflix, targeting a price of $660.
- An analyst from Evercore ISI Group persists with their Outperform rating on Netflix, maintaining a target price of $640.
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 Netflix, 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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