Whales with a lot of money to spend have taken a noticeably bearish stance on Netflix.
Looking at options history for Netflix NFLX we detected 73 trades.
If we consider the specifics of each trade, it is accurate to state that 39% of the investors opened trades with bullish expectations and 43% with bearish.
From the overall spotted trades, 28 are puts, for a total amount of $1,308,595 and 45, calls, for a total amount of $2,887,992.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $420.0 to $880.0 for Netflix over the last 3 months.
Analyzing Volume & Open Interest
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 $420.0 to $880.0 in the last 30 days.
Netflix Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NFLX | CALL | SWEEP | BULLISH | 09/20/24 | $193.45 | $191.05 | $192.0 | $500.00 | $940.8K | 1.1K | 56 |
| NFLX | PUT | TRADE | BEARISH | 01/16/26 | $215.05 | $213.1 | $215.05 | $880.00 | $172.0K | 0 | 8 |
| NFLX | CALL | SWEEP | BULLISH | 01/17/25 | $55.95 | $55.5 | $55.65 | $700.00 | $111.1K | 1.5K | 67 |
| NFLX | CALL | TRADE | NEUTRAL | 12/20/24 | $114.85 | $113.3 | $113.99 | $600.00 | $91.1K | 347 | 35 |
| NFLX | PUT | TRADE | BULLISH | 02/21/25 | $40.6 | $39.55 | $39.55 | $650.00 | $71.1K | 54 | 19 |
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.
After a thorough review of the options trading surrounding Netflix, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Netflix
- Trading volume stands at 992,538, with NFLX's price down by -0.38%, positioned at $694.38.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 31 days.
What Analysts Are Saying About Netflix
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $825.0.
- Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Netflix with a target price of $750.
- Maintaining their stance, an analyst from Pivotal Research continues to hold a Buy rating for Netflix, targeting a price of $900.
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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