Whales with a lot of money to spend have taken a noticeably bearish stance on Netflix.
Looking at options history for Netflix NFLX we detected 69 trades.
If we consider the specifics of each trade, it is accurate to state that 28% of the investors opened trades with bullish expectations and 71% with bearish.
From the overall spotted trades, 13 are puts, for a total amount of $751,625 and 56, calls, for a total amount of $4,316,324.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $300.0 and $800.0 for Netflix, spanning the last three months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Netflix's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Netflix's significant trades, within a strike price range of $300.0 to $800.0, over the past month.
Netflix 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NFLX | CALL | SWEEP | BULLISH | 12/18/26 | $680.00 | $794.9K | 12 | 51 |
| NFLX | CALL | TRADE | BULLISH | 12/18/26 | $680.00 | $347.6K | 12 | 73 |
| NFLX | CALL | SWEEP | BULLISH | 03/15/24 | $620.00 | $247.1K | 1.9K | 1.5K |
| NFLX | CALL | SWEEP | BEARISH | 03/08/24 | $600.00 | $245.0K | 1.1K | 151 |
| NFLX | CALL | SWEEP | BULLISH | 03/15/24 | $620.00 | $200.4K | 1.9K | 992 |
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 almost 250 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.
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 1,536,209, the NFLX's price is up by 0.19%, now at $620.5.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 43 days.
Expert Opinions on Netflix
1 market experts have recently issued ratings for this stock, with a consensus target price of $685.0.
- An analyst from UBS has decided to maintain their Buy rating on Netflix, which currently sits at a price target of $685.
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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