Deep-pocketed investors have adopted a bullish 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 45 extraordinary options activities for Netflix. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 33% bearish. Among these notable options, 11 are puts, totaling $553,757, and 34 are calls, amounting to $7,432,892.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $430.0 to $965.0 for Netflix over the recent three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Netflix stands at 434.61, with a total volume reaching 6,921.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Netflix, situated within the strike price corridor from $430.0 to $965.0, throughout the last 30 days.
Netflix 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NFLX | CALL | TRADE | BULLISH | 09/27/24 | $49.6 | $48.2 | $49.05 | $675.00 | $4.9M | 91 | 1.0K |
| NFLX | CALL | SWEEP | BEARISH | 10/18/24 | $88.3 | $86.9 | $86.9 | $640.00 | $608.3K | 577 | 130 |
| NFLX | CALL | SWEEP | BULLISH | 02/21/25 | $150.0 | $148.5 | $150.0 | $600.00 | $450.0K | 38 | 0 |
| NFLX | CALL | SWEEP | BEARISH | 10/18/24 | $59.05 | $58.4 | $58.4 | $680.00 | $192.4K | 715 | 33 |
| NFLX | PUT | TRADE | BULLISH | 08/15/25 | $257.0 | $254.15 | $254.65 | $965.00 | $127.3K | 0 | 5 |
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.
Present Market Standing of Netflix
- With a trading volume of 826,159, the price of NFLX is up by 0.16%, reaching $723.39.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 22 days from now.
Expert Opinions on Netflix
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $761.6666666666666.
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. * An analyst from Pivotal Research has decided to maintain their Buy rating on Netflix, which currently sits at a price target of $900. * Maintaining their stance, an analyst from Rosenblatt continues to hold a Neutral rating for Netflix, targeting a price of $635. * An analyst from Evercore ISI Group persists with their Outperform rating on Netflix, maintaining a target price of $750.
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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