Deep-pocketed investors have adopted a bearish approach towards Netflix NFLX, 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 NFLX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 42 extraordinary options activities for Netflix. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 30% leaning bullish and 57% bearish. Among these notable options, 24 are puts, totaling $1,462,394, and 18 are calls, amounting to $1,578,814.
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 $200.0 to $1110.0 for Netflix over the last 3 months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $200.0 to $1110.0 in the last 30 days.
Netflix Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NFLX | CALL | TRADE | BEARISH | 09/20/24 | $46.2 | $43.6 | $44.4 | $600.00 | $444.0K | 2.3K | 130 |
| NFLX | CALL | TRADE | BULLISH | 09/20/24 | $41.0 | $38.15 | $41.0 | $600.00 | $205.0K | 2.3K | 51 |
| NFLX | PUT | TRADE | BEARISH | 02/21/25 | $92.95 | $90.9 | $92.85 | $690.00 | $185.7K | 0 | 0 |
| NFLX | PUT | TRADE | BEARISH | 02/21/25 | $92.8 | $91.1 | $92.7 | $690.00 | $185.4K | 0 | 40 |
| NFLX | PUT | TRADE | NEUTRAL | 01/16/26 | $489.0 | $479.05 | $484.13 | $1110.00 | $145.2K | 0 | 5 |
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.
Current Position of Netflix
- With a volume of 1,327,940, the price of NFLX is up 2.74% at $626.25.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 70 days.
Expert Opinions on Netflix
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $709.0.
- An analyst from Keybanc persists with their Overweight rating on Netflix, maintaining a target price of $735.
- Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Netflix, targeting a price of $710.
- An analyst from JP Morgan persists with their Overweight rating on Netflix, maintaining a target price of $750.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Neutral rating for Netflix, targeting a price of $650.
- An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $700.
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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