Financial giants have made a conspicuous bullish move on Netflix. Our analysis of options history for Netflix NFLX revealed 45 unusual trades.
Delving into the details, we found 44% of traders were bullish, while 37% showed bearish tendencies. Out of all the trades we spotted, 13 were puts, with a value of $1,124,775, and 32 were calls, valued at $4,934,307.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $250.0 to $685.0 for Netflix over the last 3 months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Netflix stands at 504.52, with a total volume reaching 10,623.00. 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 $250.0 to $685.0, throughout the last 30 days.
Netflix Call and Put Volume: 30-Day Overview
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 | SWEEP | BEARISH | 07/19/24 | $257.5 | $253.45 | $257.38 | $400.00 | $797.9K | 196 | 70 |
| NFLX | PUT | TRADE | BULLISH | 01/17/25 | $68.0 | $65.75 | $65.9 | $665.00 | $659.0K | 29 | 100 |
| NFLX | CALL | SWEEP | BULLISH | 09/20/24 | $86.55 | $84.35 | $86.55 | $600.00 | $606.3K | 1.7K | 75 |
| NFLX | CALL | TRADE | NEUTRAL | 01/17/25 | $119.25 | $117.45 | $118.35 | $590.00 | $591.7K | 539 | 50 |
| NFLX | CALL | SWEEP | BULLISH | 09/20/24 | $65.3 | $64.15 | $64.99 | $630.00 | $519.9K | 602 | 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.
Following our analysis of the options activities associated with Netflix, we pivot to a closer look at the company's own performance.
Present Market Standing of Netflix
- With a volume of 1,333,642, the price of NFLX is up 0.65% at $654.51.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 41 days.
Professional Analyst Ratings for Netflix
In the last month, 5 experts released ratings on this stock with an average target price of $666.8.
- In a cautious move, an analyst from Wedbush downgraded its rating to Outperform, setting a price target of $725.
- Maintaining their stance, an analyst from Rosenblatt continues to hold a Neutral rating for Netflix, targeting a price of $554.
- Reflecting concerns, an analyst from Jefferies lowers its rating to Buy with a new price target of $655.
- An analyst from Needham downgraded its action to Buy with a price target of $700.
- An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Netflix, which currently sits at a price target of $700.
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 Netflix with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
