High-rolling investors have positioned themselves bearish on Netflix NFLX, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in NFLX often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 13 options trades for Netflix. This is not a typical pattern.
The sentiment among these major traders is split, with 15% bullish and 30% bearish. Among all the options we identified, there was one put, amounting to $55,610, and 12 calls, totaling $548,540.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $605.0 to $930.0 for Netflix over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Netflix'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 Netflix's whale activity within a strike price range from $605.0 to $930.0 in the last 30 days.
Netflix Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NFLX | CALL | SWEEP | BEARISH | 12/20/24 | $27.1 | $24.9 | $24.9 | $900.00 | $128.0K | 1.6K | 52 |
| NFLX | CALL | SWEEP | NEUTRAL | 02/21/25 | $76.45 | $75.05 | $75.26 | $900.00 | $75.2K | 1.2K | 11 |
| NFLX | CALL | TRADE | NEUTRAL | 06/20/25 | $125.2 | $109.2 | $116.0 | $900.00 | $69.6K | 627 | 6 |
| NFLX | PUT | SWEEP | BEARISH | 12/20/24 | $8.3 | $7.95 | $8.3 | $922.50 | $55.6K | 171 | 118 |
| NFLX | CALL | SWEEP | BEARISH | 12/20/24 | $8.95 | $8.5 | $8.5 | $930.00 | $38.3K | 2.3K | 238 |
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 280 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.
In light of the recent options history for Netflix, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Netflix
- Trading volume stands at 188,711, with NFLX's price up by 0.25%, positioned at $923.36.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 35 days.
What Analysts Are Saying About Netflix
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $1000.0.
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. * Consistent in their evaluation, an analyst from Pivotal Research keeps a Buy rating on Netflix with a target price of $1100. * Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Netflix, targeting a price of $1010. * An analyst from B of A Securities persists with their Buy rating on Netflix, maintaining a target price of $1000. * Consistent in their evaluation, an analyst from Canaccord Genuity keeps a Hold rating on Netflix with a target price of $940. * An analyst from Evercore ISI Group persists with their Outperform rating on Netflix, maintaining a target price of $950.
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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