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 54 extraordinary options activities for Netflix. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 38% bearish. Among these notable options, 16 are puts, totaling $1,044,476, and 38 are calls, amounting to $1,995,095.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $430.0 to $780.0 for Netflix during the past quarter.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Netflix's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Netflix's significant trades, within a strike price range of $430.0 to $780.0, over the past month.
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 | PUT | TRADE | BULLISH | 10/18/24 | $29.35 | $29.2 | $29.2 | $715.00 | $414.6K | 749 | 276 |
| NFLX | CALL | TRADE | BEARISH | 10/18/24 | $31.2 | $31.15 | $31.15 | $715.00 | $271.0K | 742 | 259 |
| NFLX | CALL | SWEEP | BEARISH | 12/20/24 | $126.8 | $126.05 | $126.8 | $600.00 | $190.2K | 346 | 15 |
| NFLX | CALL | TRADE | BEARISH | 06/20/25 | $169.05 | $167.3 | $167.95 | $600.00 | $167.9K | 359 | 10 |
| NFLX | CALL | TRADE | BEARISH | 10/25/24 | $29.1 | $28.6 | $28.65 | $725.00 | $106.0K | 123 | 88 |
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
- Currently trading with a volume of 1,403,629, the NFLX's price is up by 1.39%, now at $716.63.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 13 days.
Expert Opinions on 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 $697.5.
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. * An analyst from Keybanc persists with their Overweight rating on Netflix, maintaining a target price of $760. * An analyst from Rosenblatt persists with their Neutral rating on Netflix, maintaining a target price of $635.
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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