Financial giants have made a conspicuous bullish move on Charter Communications. Our analysis of options history for Charter Communications CHTR revealed 25 unusual trades.
Delving into the details, we found 44% of traders were bullish, while 36% showed bearish tendencies. Out of all the trades we spotted, 18 were puts, with a value of $1,900,955, and 7 were calls, valued at $621,154.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $285.0 and $350.0 for Charter Communications, spanning the last three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Charter Communications stands at 185.53, with a total volume reaching 9,132.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Charter Communications, situated within the strike price corridor from $285.0 to $350.0, throughout the last 30 days.
Charter Communications 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CHTR | PUT | SWEEP | BULLISH | 01/17/25 | $51.3 | $50.0 | $50.0 | $350.00 | $700.0K | 1.2K | 316 |
| CHTR | PUT | SWEEP | BULLISH | 01/17/25 | $51.1 | $51.0 | $51.0 | $350.00 | $387.6K | 1.2K | 76 |
| CHTR | CALL | TRADE | BEARISH | 09/20/24 | $16.0 | $15.4 | $15.5 | $340.00 | $387.5K | 586 | 251 |
| CHTR | PUT | SWEEP | BEARISH | 08/02/24 | $7.4 | $6.8 | $7.4 | $295.00 | $111.0K | 2 | 208 |
| CHTR | PUT | SWEEP | BULLISH | 07/26/24 | $8.1 | $7.6 | $7.6 | $300.00 | $88.1K | 122 | 1.1K |
About Charter Communications
Charter is the product of the 2016 merger of three cable companies, each with a decades-long history in the business: Legacy Charter, Time Warner Cable, and Bright House Networks. The firm now holds networks capable of providing television, internet access, and phone services to roughly 57 million US homes and businesses, around 40% of the country. Across this footprint, Charter serves 30 million residential and 2 million commercial customer accounts under the Spectrum brand, making it the second-largest US cable company behind Comcast. The firm also owns, in whole or in part, sports and news networks, including Spectrum SportsNet (long-term local rights to Los Angeles Lakers games), SportsNet LA (Los Angeles Dodgers), SportsNet New York (New York Mets), and Spectrum News NY1.
In light of the recent options history for Charter Communications, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Charter Communications's Current Market Status
- Trading volume stands at 1,385,726, with CHTR's price up by 0.82%, positioned at $315.23.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 1 days.
Expert Opinions on Charter Communications
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $278.3333333333333.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Charter Communications, targeting a price of $330.
- An analyst from Citigroup downgraded its action to Sell with a price target of $255.
- An analyst from Goldman Sachs has revised its rating downward to Sell, adjusting the price target to $250.
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 Charter Communications with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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