Investors with significant funds have taken a bullish position in Charter Communications CHTR, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in CHTR usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 9 options transactions for Charter Communications. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 66% being bullish and 11% bearish. Of all the options we discovered, 8 are puts, valued at $272,166, and there was a single call, worth $75,600.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $250.0 and $450.0 for Charter Communications, 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 Charter Communications'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 Charter Communications's whale trades within a strike price range from $250.0 to $450.0 in the last 30 days.
Charter Communications 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CHTR | CALL | SWEEP | BEARISH | 01/16/26 | $26.4 | $25.2 | $25.2 | $450.00 | $75.6K | 58 | 30 |
| CHTR | PUT | SWEEP | BULLISH | 01/17/25 | $3.9 | $3.8 | $3.8 | $250.00 | $43.7K | 286 | 236 |
| CHTR | PUT | SWEEP | BULLISH | 01/15/27 | $100.9 | $99.0 | $99.0 | $400.00 | $39.6K | 0 | 176 |
| CHTR | PUT | SWEEP | BULLISH | 01/17/25 | $4.2 | $3.8 | $3.8 | $250.00 | $35.3K | 286 | 156 |
| CHTR | PUT | TRADE | NEUTRAL | 01/17/25 | $4.0 | $3.6 | $3.8 | $250.00 | $33.4K | 286 | 820 |
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.
In light of the recent options history for Charter Communications, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Charter Communications
- Currently trading with a volume of 432,957, the CHTR's price is down by -0.09%, now at $331.03.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 35 days.
Expert Opinions on Charter Communications
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $347.5.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Reflecting concerns, an analyst from RBC Capital lowers its rating to Sector Perform with a new price target of $345. * An analyst from Citigroup has elevated its stance to Neutral, setting a new price target at $350.
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 Charter Communications with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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