A Closer Look at Netflix's Options Market Dynamics

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 23 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 47% with bearish.

From the overall spotted trades, 8 are puts, for a total amount of $577,179 and 15, calls, for a total amount of $763,469.

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 $550.0 to $900.0 for Netflix during the past quarter.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Netflix's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Netflix's substantial trades, within a strike price spectrum from $550.0 to $900.0 over the preceding 30 days.

Netflix 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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.

Where Is Netflix Standing Right Now?

• Currently trading with a volume of 457,863, the NFLX's price is down by -0.45%, now at $718.5.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 8 days.

Expert Opinions on Netflix

In the last month, 5 experts released ratings on this stock with an average target price of $736.0.

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 Barclays downgraded its rating to Underweight, setting a price target of $550. * An analyst from Piper Sandler has elevated its stance to Overweight, setting a new price target at $800. * An analyst from JP Morgan downgraded its action to Overweight with a price target of $750. * An analyst from TD Cowen persists with their Buy rating on Netflix, maintaining a target price of $820. * An analyst from Keybanc has decided to maintain their Overweight rating on Netflix, which currently sits at a price target of $760.

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.