Financial giants have made a conspicuous bearish move on Netflix. Our analysis of options history for Netflix NFLX revealed 20 unusual trades.
Delving into the details, we found 20% of traders were bullish, while 35% showed bearish tendencies. Out of all the trades we spotted, 9 were puts, with a value of $920,436, and 11 were calls, valued at $542,116.
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 $500.0 and $730.0 for Netflix, spanning the last three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Netflix stands at 443.07, with a total volume reaching 1,068.00. 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 $500.0 to $730.0, throughout the last 30 days.
Netflix 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NFLX | PUT | TRADE | NEUTRAL | 09/20/24 | $95.75 | $92.55 | $94.14 | $725.00 | $188.2K | 474 | 20 |
| NFLX | PUT | TRADE | NEUTRAL | 09/20/24 | $95.7 | $92.65 | $94.12 | $725.00 | $188.2K | 474 | 60 |
| NFLX | PUT | TRADE | NEUTRAL | 09/20/24 | $95.75 | $92.55 | $94.11 | $725.00 | $188.2K | 474 | 40 |
| NFLX | PUT | TRADE | NEUTRAL | 09/20/24 | $99.8 | $97.7 | $98.75 | $730.00 | $167.8K | 51 | 0 |
| NFLX | CALL | SWEEP | NEUTRAL | 12/20/24 | $49.1 | $48.4 | $48.75 | $650.00 | $121.8K | 768 | 28 |
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 more than 275 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.
Current Position of Netflix
- Currently trading with a volume of 440,895, the NFLX's price is up by 0.48%, now at $629.96.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 78 days.
Professional Analyst Ratings for Netflix
5 market experts have recently issued ratings for this stock, with a consensus target price of $676.0.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Netflix with a target price of $650.
- An analyst from B of A Securities has decided to maintain their Buy rating on Netflix, which currently sits at a price target of $740.
- Reflecting concerns, an analyst from Macquarie lowers its rating to Outperform with a new price target of $685.
- An analyst from Redburn Atlantic persists with their Buy rating on Netflix, maintaining a target price of $760.
- An analyst from Benchmark has decided to maintain their Sell rating on Netflix, which currently sits at a price target of $545.
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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