Deep-pocketed investors have adopted a bearish approach towards Netflix NFLX, 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 NFLX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Netflix. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 66% bearish. Among these notable options, 2 are puts, totaling $148,769, and 7 are calls, amounting to $320,186.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $300.0 to $655.0 for Netflix over the last 3 months.
Insights into Volume & Open Interest
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 $300.0 to $655.0 in the last 30 days.
Netflix Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NFLX | CALL | TRADE | NEUTRAL | 07/19/24 | $49.7 | $48.5 | $49.1 | $630.00 | $98.2K | 227 | 0 |
| NFLX | PUT | TRADE | BEARISH | 06/21/24 | $44.1 | $43.7 | $44.1 | $625.00 | $74.9K | 111 | 0 |
| NFLX | PUT | SWEEP | BULLISH | 04/19/24 | $8.1 | $7.85 | $7.85 | $570.00 | $73.7K | 1.8K | 23 |
| NFLX | CALL | SWEEP | BEARISH | 04/26/24 | $30.35 | $29.65 | $29.65 | $620.00 | $59.3K | 558 | 100 |
| NFLX | CALL | TRADE | NEUTRAL | 06/21/24 | $88.95 | $86.65 | $87.85 | $550.00 | $43.9K | 1.3K | 5 |
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.
Where Is Netflix Standing Right Now?
- With a trading volume of 117,715, the price of NFLX is up by 0.3%, reaching $619.38.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 1 days from now.
Expert Opinions on Netflix
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $645.0.
- An analyst from Citigroup persists with their Neutral rating on Netflix, maintaining a target price of $660.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Netflix with a target price of $650.
- Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Netflix, targeting a price of $550.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Netflix with a target price of $600.
- Consistent in their evaluation, an analyst from Pivotal Research keeps a Buy rating on Netflix with a target price of $765.
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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