A whale with a lot of money to spend has taken a noticeably bearish stance on Netflix.
Looking at options history for Netflix (NASDAQ:NFLX) we detected 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 60% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $260,587 and 6, calls, for a total amount of $235,520.
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 $120.0 to $435.0 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 $120.0 to $435.0 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 | PUT | SWEEP | BEARISH | 01/17/25 | $420.00 | $174.6K | 157 | 55 |
| NFLX | CALL | SWEEP | BEARISH | 06/30/23 | $430.00 | $53.7K | 3.5K | 1.2K |
| NFLX | CALL | SWEEP | BULLISH | 06/30/23 | $420.00 | $53.5K | 1.5K | 0 |
| NFLX | CALL | SWEEP | BULLISH | 06/30/23 | $425.00 | $39.3K | 1.8K | 107 |
| NFLX | CALL | SWEEP | BULLISH | 06/30/23 | $435.00 | $33.1K | 2.2K | 786 |
Where Is Netflix Standing Right Now?
- With a volume of 380,696, the price of NFLX is up 0.42% at $417.68.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 22 days.
What The Experts Say On Netflix:
- B of A Securities has decided to maintain their Buy rating on Netflix, which currently sits at a price target of $490.
- Benchmark downgraded its action to Sell with a price target of $250
- Guggenheim has decided to maintain their Buy rating on Netflix, which currently sits at a price target of $500.
- Wolfe Research downgraded its action to Outperform with a price target of $485
- JP Morgan has decided to maintain their Overweight rating on Netflix, which currently sits at a price target of $470.
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.
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