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 21 extraordinary options activities for Netflix. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 38% leaning bullish and 47% bearish. Among these notable options, 5 are puts, totaling $190,691, and 16 are calls, amounting to $1,251,533.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $625.0 and $1040.0 for Netflix, spanning the last three months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $625.0 to $1040.0 in the last 30 days.
Netflix Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NFLX | CALL | TRADE | BULLISH | 09/20/24 | $21.15 | $19.45 | $21.0 | $675.00 | $399.0K | 754 | 4 |
| NFLX | CALL | SWEEP | BEARISH | 09/06/24 | $57.6 | $53.4 | $52.05 | $625.00 | $157.5K | 77 | 30 |
| NFLX | CALL | SWEEP | BEARISH | 02/21/25 | $42.8 | $42.15 | $42.15 | $750.00 | $96.9K | 56 | 31 |
| NFLX | CALL | TRADE | BULLISH | 12/20/24 | $89.1 | $87.25 | $88.55 | $625.00 | $88.5K | 76 | 23 |
| NFLX | CALL | SWEEP | BEARISH | 09/20/24 | $20.35 | $19.7 | $19.7 | $675.00 | $82.6K | 754 | 240 |
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.
Having examined the options trading patterns of Netflix, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Netflix
- Currently trading with a volume of 307,974, the NFLX's price is down by 0.0%, now at $675.31.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 42 days.
What Analysts Are Saying About Netflix
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $825.0.
- An analyst from Evercore ISI Group persists with their Outperform rating on Netflix, maintaining a target price of $750.
- An analyst from Pivotal Research persists with their Buy rating on Netflix, maintaining a target price of $900.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Netflix, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
