Investors with a lot of money to spend have taken a bullish stance on Netflix NFLX.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with NFLX, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 16 uncommon options trades for Netflix.
This isn't normal.
The overall sentiment of these big-money traders is split between 56% bullish and 43%, bearish.
Out of all of the special options we uncovered, 11 are puts, for a total amount of $412,978, and 5 are calls, for a total amount of $274,837.
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 $400.0 to $570.0 for Netflix over the last 3 months.
Volume & Open Interest Trends
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 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 trades within a strike price range from $400.0 to $570.0 in the last 30 days.
Netflix Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NFLX | CALL | SWEEP | BEARISH | 12/15/23 | $400.00 | $100.1K | 1.0K | 24 |
| NFLX | CALL | TRADE | BULLISH | 09/20/24 | $570.00 | $52.3K | 293 | 0 |
| NFLX | PUT | SWEEP | BEARISH | 03/15/24 | $555.00 | $51.8K | 6 | 0 |
| NFLX | CALL | TRADE | BULLISH | 12/01/23 | $400.00 | $49.3K | 169 | 8 |
| NFLX | PUT | SWEEP | BEARISH | 01/17/25 | $410.00 | $47.8K | 507 | 40 |
About Netflix
Netflix's primary business is a streaming video on demand service now available in almost every country worldwide except China. The firm primarily generates revenue from subscriptions to its eponymous service. Netflix delivers original and third-party digital video content to PCs, internet-connected TVs, and consumer electronic devices, including tablets, video game consoles, Apple TV, Roku, and Chromecast. Netflix is the largest SVOD platform in the world with over 220 million subscribers globally.
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 1,624,661, the NFLX's price is down by -0.8%, now at $470.17.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 48 days.
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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