Deep-pocketed investors have adopted a bearish approach towards Charter Communications CHTR, 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 CHTR usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Charter Communications. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 18% leaning bullish and 81% bearish. Among these notable options, 9 are puts, totaling $411,089, and 2 are calls, amounting to $58,277.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $260.0 to $320.0 for Charter Communications over the recent three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Charter Communications options trades today is 510.0 with a total volume of 2,767.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Charter Communications's big money trades within a strike price range of $260.0 to $320.0 over the last 30 days.
Charter Communications Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CHTR | PUT | SWEEP | BEARISH | 08/16/24 | $6.4 | $6.2 | $6.4 | $260.00 | $76.8K | 2.6K | 325 |
| CHTR | PUT | SWEEP | BEARISH | 08/16/24 | $6.3 | $5.9 | $6.3 | $260.00 | $66.7K | 2.6K | 655 |
| CHTR | PUT | SWEEP | BEARISH | 07/26/24 | $4.8 | $4.7 | $4.8 | $260.00 | $60.8K | 0 | 100 |
| CHTR | PUT | TRADE | BEARISH | 01/17/25 | $35.0 | $33.4 | $35.0 | $300.00 | $45.5K | 140 | 0 |
| CHTR | PUT | SWEEP | BULLISH | 06/28/24 | $0.7 | $0.65 | $0.7 | $275.00 | $37.3K | 27 | 10 |
About Charter Communications
Charter is the product of the 2016 merger of three cable companies, each with a decades-long history in the business: Legacy Charter, Time Warner Cable, and Bright House Networks. The firm now holds networks capable of providing television, internet access, and phone services to roughly 57 million US homes and businesses, around 40% of the country. Across this footprint, Charter serves 30 million residential and 2 million commercial customer accounts under the Spectrum brand, making it the second-largest US cable company behind Comcast. The firm also owns, in whole or in part, sports and news networks, including Spectrum SportsNet (long-term local rights to Los Angeles Lakers games), SportsNet LA (Los Angeles Dodgers), SportsNet New York (New York Mets), and Spectrum News NY1.
Having examined the options trading patterns of Charter Communications, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Charter Communications
- With a trading volume of 932,886, the price of CHTR is down by -0.06%, reaching $290.17.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 32 days from now.
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 Charter Communications, 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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