Someone with a lot of money to spend has taken a bearish stance on Netflix NFLX.
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with NFLX, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 15 options trades for Netflix.
This isn't normal.
The overall sentiment of these big-money traders is split between 46% bullish and 53%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $30,250, and 14, calls, for a total amount of $671,297..
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 $375.0 to $425.0 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 $375.0 to $425.0 in the last 30 days.
Netflix Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NFLX | CALL | SWEEP | BEARISH | 10/27/23 | $420.00 | $92.8K | 4.0K | 5.7K |
| NFLX | CALL | SWEEP | BULLISH | 10/27/23 | $420.00 | $91.1K | 4.0K | 3.7K |
| NFLX | CALL | SWEEP | NEUTRAL | 10/27/23 | $420.00 | $58.2K | 4.0K | 3.2K |
| NFLX | CALL | TRADE | BULLISH | 11/17/23 | $420.00 | $51.8K | 2.1K | 214 |
| NFLX | CALL | SWEEP | BULLISH | 10/27/23 | $420.00 | $48.4K | 4.0K | 776 |
Where Is Netflix Standing Right Now?
- With a volume of 1,114,381, the price of NFLX is up 1.98% at $414.9.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 86 days.
What The Experts Say On Netflix:
- Rosenblatt has decided to maintain their Neutral rating on Netflix, which currently sits at a price target of $404.
- Guggenheim downgraded its action to Buy with a price target of $460
- Morgan Stanley upgraded its action to Overweight with a price target of $475
- Seaport Global downgraded its action to Buy with a price target of $482
- Wedbush downgraded its action to Outperform with a price target of $525
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Netflix, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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