Deep-pocketed investors have adopted a bearish 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 8 extraordinary options activities for Roku. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 25% leaning bullish and 50% bearish. Among these notable options, 2 are puts, totaling $119,165, and 6 are calls, amounting to $580,340.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $45.0 to $85.0 for Roku during the past quarter.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Roku options trades today is 1452.29 with a total volume of 1,367.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Roku's big money trades within a strike price range of $45.0 to $85.0 over the last 30 days.
Roku Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROKU | CALL | SWEEP | BEARISH | 12/20/24 | $6.0 | $5.85 | $5.85 | $65.00 | $234.0K | 1.2K | 432 |
| ROKU | CALL | SWEEP | BEARISH | 09/20/24 | $6.75 | $6.7 | $6.75 | $55.00 | $152.5K | 2.4K | 301 |
| ROKU | PUT | SWEEP | BULLISH | 01/16/26 | $6.7 | $6.6 | $6.6 | $45.00 | $67.9K | 1.0K | 105 |
| ROKU | CALL | TRADE | BEARISH | 06/20/25 | $14.1 | $13.45 | $13.45 | $60.00 | $60.5K | 629 | 45 |
| ROKU | PUT | SWEEP | NEUTRAL | 01/17/25 | $10.3 | $10.15 | $10.24 | $65.00 | $51.1K | 1.5K | 73 |
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.
Following our analysis of the options activities associated with Roku, we pivot to a closer look at the company's own performance.
Present Market Standing of Roku
- Trading volume stands at 1,216,564, with ROKU's price up by 3.62%, positioned at $60.7.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 72 days.
What Analysts Are Saying About Roku
In the last month, 5 experts released ratings on this stock with an average target price of $79.2.
- Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for Roku, targeting a price of $75.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Roku with a target price of $80.
- An analyst from Rosenblatt persists with their Neutral rating on Roku, maintaining a target price of $61.
- An analyst from Wedbush downgraded its action to Outperform with a price target of $75.
- Reflecting concerns, an analyst from Benchmark lowers its rating to Buy with a new price target of $105.
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 Roku with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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