Deep-pocketed investors have adopted a bullish approach towards Roku ROKU, 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 ROKU usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Roku. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 25% bearish. Among these notable options, 3 are puts, totaling $113,950, and 5 are calls, amounting to $402,503.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $58.0 to $80.0 for Roku over the recent three 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 Roku'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 Roku's whale trades within a strike price range from $58.0 to $80.0 in the last 30 days.
Roku Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROKU | CALL | TRADE | BULLISH | 01/16/26 | $20.0 | $19.25 | $20.0 | $60.00 | $176.0K | 1.2K | 12 |
| ROKU | CALL | SWEEP | BULLISH | 01/16/26 | $18.9 | $17.4 | $18.38 | $65.00 | $137.6K | 733 | 0 |
| ROKU | PUT | TRADE | NEUTRAL | 01/16/26 | $20.2 | $19.8 | $20.0 | $70.00 | $60.0K | 322 | 0 |
| ROKU | CALL | SWEEP | BEARISH | 08/09/24 | $8.85 | $8.2 | $8.2 | $58.00 | $31.1K | 38 | 0 |
| ROKU | CALL | SWEEP | BEARISH | 01/17/25 | $12.45 | $11.85 | $11.99 | $60.00 | $29.9K | 3.2K | 0 |
About Roku
Roku enables consumers to stream television programming. It has more than 80 million streaming households and provided well over 100 billion streaming hours in 2023. Roku is the top streaming operating system in the US, reaching more than half of broadband households, according to the company. Roku's OS is built into streaming devices and televisions that Roku sells and on connected televisions from other manufacturers that license Roku's name and software. Roku also operates the Roku Channel, a free, ad-supported streaming television platform that offers a mix of on-demand and live television programming. Roku generates revenue primarily from selling devices, licensing, and advertising, and it receives fees from subscription streaming platforms that sell subscriptions through Roku.
Having examined the options trading patterns of Roku, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Roku's Current Market Status
- Currently trading with a volume of 1,754,841, the ROKU's price is down by -1.51%, now at $61.35.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 20 days.
What The Experts Say On Roku
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $87.5.
- In a cautious move, an analyst from Wedbush downgraded its rating to Outperform, setting a price target of $75.
- An analyst from Needham downgraded its action to Buy with a price target of $100.
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 Roku with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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