Investors with a lot of money to spend have taken a bearish stance on Charter Communications CHTR.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CHTR, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 17 uncommon options trades for Charter Communications.
This isn't normal.
The overall sentiment of these big-money traders is split between 17% bullish and 70%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $266,672, and 10 are calls, for a total amount of $620,170.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $340.0 to $400.0 for Charter Communications over the recent three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Charter Communications options trades today is 555.0 with a total volume of 878.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Charter Communications's big money trades within a strike price range of $340.0 to $400.0 over the last 30 days.
Charter Communications 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CHTR | CALL | SWEEP | BEARISH | 01/17/25 | $21.4 | $19.9 | $20.21 | $400.00 | $201.7K | 2.3K | 102 |
| CHTR | CALL | TRADE | BEARISH | 01/16/26 | $65.4 | $63.0 | $63.0 | $380.00 | $63.0K | 40 | 40 |
| CHTR | CALL | TRADE | BEARISH | 01/16/26 | $65.4 | $62.3 | $63.0 | $380.00 | $63.0K | 40 | 20 |
| CHTR | CALL | TRADE | BEARISH | 01/17/25 | $28.1 | $27.3 | $27.3 | $380.00 | $54.6K | 338 | 41 |
| CHTR | PUT | TRADE | BEARISH | 09/20/24 | $15.3 | $15.1 | $15.3 | $360.00 | $53.5K | 115 | 143 |
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 58 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.
After a thorough review of the options trading surrounding Charter Communications, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Charter Communications Standing Right Now?
- With a volume of 586,749, the price of CHTR is up 1.78% at $357.0.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 73 days.
Professional Analyst Ratings for Charter Communications
In the last month, 5 experts released ratings on this stock with an average target price of $377.8.
- An analyst from B of A Securities has decided to maintain their Neutral rating on Charter Communications, which currently sits at a price target of $385.
- Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Charter Communications with a target price of $350.
- Consistent in their evaluation, an analyst from Barclays keeps a Underweight rating on Charter Communications with a target price of $300.
- An analyst from TD Cowen has decided to maintain their Buy rating on Charter Communications, which currently sits at a price target of $525.
- Maintaining their stance, an analyst from Rosenblatt continues to hold a Neutral rating for Charter Communications, targeting a price of $329.
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 Charter Communications 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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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