Financial giants have made a conspicuous bearish move on Netflix. Our analysis of options history for Netflix NFLX revealed 22 unusual trades.
Delving into the details, we found 40% of traders were bullish, while 59% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $483,232, and 14 were calls, valued at $681,271.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $490.0 to $1110.0 for Netflix over the last 3 months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Netflix'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 Netflix's whale trades within a strike price range from $490.0 to $1110.0 in the last 30 days.
Netflix Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NFLX | CALL | TRADE | BULLISH | 05/10/24 | $24.0 | $24.0 | $24.0 | $650.00 | $120.0K | 20 | 0 |
| NFLX | CALL | TRADE | BULLISH | 06/21/24 | $16.55 | $16.35 | $16.55 | $700.00 | $112.5K | 1.4K | 286 |
| NFLX | CALL | TRADE | BULLISH | 04/12/24 | $49.5 | $48.4 | $49.5 | $570.00 | $99.0K | 53 | 40 |
| NFLX | PUT | SWEEP | BEARISH | 06/21/24 | $90.7 | $89.35 | $89.75 | $700.00 | $98.7K | 17 | 5 |
| NFLX | PUT | TRADE | BEARISH | 01/17/25 | $483.55 | $483.5 | $483.55 | $1110.00 | $96.7K | 0 | 0 |
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.
After a thorough review of the options trading surrounding Netflix, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Netflix
- With a trading volume of 332,972, the price of NFLX is down by -0.01%, reaching $618.5.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 7 days from now.
Expert Opinions on Netflix
In the last month, 5 experts released ratings on this stock with an average target price of $715.0.
- An analyst from Pivotal Research persists with their Buy rating on Netflix, maintaining a target price of $765.
- Maintaining their stance, an analyst from Loop Capital continues to hold a Buy rating for Netflix, targeting a price of $700.
- An analyst from Citigroup persists with their Neutral rating on Netflix, maintaining a target price of $660.
- An analyst from TD Cowen has decided to maintain their Buy rating on Netflix, which currently sits at a price target of $725.
- Maintaining their stance, an analyst from Wedbush continues to hold a Outperform rating for Netflix, targeting a price of $725.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Netflix options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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