Deep-pocketed investors have adopted a bearish approach towards Comcast CMCSA, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CMCSA usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Comcast. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 41% leaning bullish and 58% bearish. Among these notable options, 3 are puts, totaling $140,645, and 9 are calls, amounting to $614,065.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $37.5 and $50.0 for Comcast, spanning the last three months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Comcast's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Comcast's significant trades, within a strike price range of $37.5 to $50.0, over the past month.
Comcast Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CMCSA | CALL | SWEEP | BULLISH | 04/19/24 | $40.00 | $123.9K | 864 | 4 |
| CMCSA | CALL | SWEEP | BULLISH | 06/21/24 | $42.50 | $106.0K | 3.6K | 74 |
| CMCSA | CALL | SWEEP | NEUTRAL | 01/19/24 | $45.00 | $96.7K | 31.8K | 3.0K |
| CMCSA | PUT | SWEEP | BEARISH | 04/19/24 | $47.50 | $88.5K | 619 | 0 |
| CMCSA | CALL | SWEEP | BULLISH | 01/19/24 | $45.00 | $79.4K | 31.8K | 977 |
About Comcast
Comcast is made up of three parts. The core cable business owns networks capable of providing television, internet access, and phone services to 62 million U.S. homes and businesses, or nearly half of the country. About 55% of the homes in this territory subscribe to at least one Comcast service. Comcast acquired NBCUniversal from General Electric in 2011. NBCU owns several cable networks, including CNBC, MSNBC, and USA, the NBC broadcast network, the Peacock streaming platform, several local NBC affiliates, Universal Studios, and several theme parks. Sky, acquired in 2018, is the dominant television provider in the U.K. and has invested heavily in proprietary content to build this position. Sky is also the largest pay-television provider in Italy and has a presence in Germany and Austria.
Comcast's Current Market Status
- With a volume of 9,717,250, the price of CMCSA is up 2.29% at $44.67.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 42 days.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Comcast with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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