Deep-pocketed investors have adopted a bullish 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 44% leaning bullish and 33% bearish. Among these notable options, 3 are puts, totaling $266,593, and 6 are calls, amounting to $619,437.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $500.0 to $1110.0 for Netflix during the past quarter.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Netflix's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Netflix's substantial trades, within a strike price spectrum from $500.0 to $1110.0 over the preceding 30 days.
Netflix 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NFLX | CALL | TRADE | BEARISH | 01/17/25 | $179.0 | $177.25 | $177.25 | $500.00 | $354.5K | 2.4K | 20 |
| NFLX | PUT | SWEEP | BULLISH | 01/17/25 | $473.25 | $465.95 | $468.81 | $1110.00 | $140.6K | 0 | 8 |
| NFLX | CALL | TRADE | NEUTRAL | 06/21/24 | $14.6 | $13.6 | $14.05 | $645.00 | $140.5K | 919 | 0 |
| NFLX | PUT | TRADE | NEUTRAL | 01/17/25 | $472.9 | $465.95 | $469.75 | $1110.00 | $93.9K | 0 | 3 |
| NFLX | CALL | SWEEP | BULLISH | 12/20/24 | $22.25 | $20.5 | $21.6 | $800.00 | $34.5K | 717 | 0 |
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.
In light of the recent options history for Netflix, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Netflix Standing Right Now?
- Currently trading with a volume of 53,707, the NFLX's price is up by 0.57%, now at $645.28.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 44 days.
Professional Analyst Ratings for Netflix
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $646.0.
- Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Netflix with a target price of $700.
- An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $700.
- Reflecting concerns, an analyst from Wedbush lowers its rating to Outperform with a new price target of $725.
- An analyst from Benchmark persists with their Sell rating on Netflix, maintaining a target price of $450.
- An analyst from Jefferies downgraded its action to Buy with a price target of $655.
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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