What the Options Market Tells Us About Roku

Whales with a lot of money to spend have taken a noticeably bullish stance on Roku.

Looking at options history for Roku ROKU we detected 14 trades.

If we consider the specifics of each trade, it is accurate to state that 78% of the investors opened trades with bullish expectations and 21% with bearish.

From the overall spotted trades, 4 are puts, for a total amount of $213,720 and 10, calls, for a total amount of $499,715.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $78.0 to $85.0 for Roku during the past quarter.

Volume & Open Interest Development

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 Roku'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 Roku's whale trades within a strike price range from $78.0 to $85.0 in the last 30 days.

Roku Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

About Roku

Roku enables consumers to stream television programming. It has more than 80 million streaming households and provided well over 100 billion streaming hours in 2023. Roku is the top streaming operating system in the US, reaching more than half of broadband households, according to the company. Roku's OS is built into streaming devices and televisions that Roku sells and on connected televisions from other manufacturers that license Roku's name and software. Roku also operates the Roku Channel, a free, ad-supported streaming television platform that offers a mix of on-demand and live television programming. Roku generates revenue primarily from selling devices, licensing, and advertising, and it receives fees from subscription streaming platforms that sell subscriptions through Roku.

Following our analysis of the options activities associated with Roku, we pivot to a closer look at the company's own performance.

Where Is Roku Standing Right Now?

• Currently trading with a volume of 1,536,708, the ROKU's price is up by 0.58%, now at $76.33.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 23 days.

Professional Analyst Ratings for Roku

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $97.6.

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. * In a cautious move, an analyst from Benchmark downgraded its rating to Buy, setting a price target of $105. * An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $100. * An analyst from Wolfe Research upgraded its action to Outperform with a price target of $93. * An analyst from Macquarie persists with their Outperform rating on Roku, maintaining a target price of $90. * In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $100.

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 Roku with Benzinga Pro for real-time alerts.