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 9 extraordinary options activities for Roku. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 44% bearish. Among these notable options, 6 are puts, totaling $225,275, and 3 are calls, amounting to $169,746.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $50.0 and $115.0 for Roku, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Roku stands at 1113.25, with a total volume reaching 442.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Roku, situated within the strike price corridor from $50.0 to $115.0, throughout the last 30 days.
Roku Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROKU | CALL | SWEEP | BULLISH | 12/20/24 | $11.45 | $11.35 | $11.45 | $50.00 | $81.3K | 359 | 12 |
| ROKU | CALL | SWEEP | BULLISH | 01/16/26 | $13.3 | $13.1 | $13.1 | $65.00 | $60.2K | 708 | 0 |
| ROKU | PUT | SWEEP | BEARISH | 01/16/26 | $16.9 | $16.9 | $16.9 | $60.00 | $50.6K | 386 | 0 |
| ROKU | PUT | SWEEP | BULLISH | 01/17/25 | $19.35 | $19.3 | $19.3 | $70.00 | $48.2K | 1.5K | 0 |
| ROKU | PUT | TRADE | NEUTRAL | 01/17/25 | $9.1 | $8.95 | $9.03 | $55.00 | $45.1K | 1.6K | 1 |
About Roku
Roku enables consumers to stream television programming. It has more than 80 million streaming households and provided well over 100 billion streaming hours in 2023. Roku is the top streaming operating system in the US, reaching more than half of broadband households, according to the company. Roku's OS is built into streaming devices and televisions that Roku sells and on connected televisions from other manufacturers that license Roku's name and software. Roku also operates the Roku Channel, a free, ad-supported streaming television platform that offers a mix of on-demand and live television programming. Roku generates revenue primarily from selling devices, licensing, and advertising, and it receives fees from subscription streaming platforms that sell subscriptions through Roku.
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
Roku's Current Market Status
- With a volume of 1,341,585, the price of ROKU is up 0.22% at $53.79.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 34 days.
Professional Analyst Ratings for Roku
In the last month, 1 experts released ratings on this stock with an average target price of $100.0.
- Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $100.
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 Roku 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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