Whales with a lot of money to spend have taken a noticeably bearish stance on Charter Communications.
Looking at options history for Charter Communications CHTR we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 10% of the investors opened trades with bullish expectations and 70% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $197,400 and 4, calls, for a total amount of $244,150.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $230.0 to $400.0 for Charter Communications over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Charter Communications options trades today is 496.86 with a total volume of 138.00.
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 $230.0 to $400.0 over the last 30 days.
Charter Communications Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CHTR | CALL | SWEEP | BULLISH | 01/17/25 | $16.0 | $15.1 | $16.0 | $400.00 | $160.0K | 2.7K | 0 |
| CHTR | PUT | SWEEP | NEUTRAL | 01/17/25 | $5.3 | $5.0 | $5.2 | $230.00 | $43.1K | 237 | 54 |
| CHTR | PUT | TRADE | BEARISH | 01/17/25 | $5.3 | $4.4 | $5.2 | $230.00 | $37.4K | 237 | 54 |
| CHTR | PUT | SWEEP | BEARISH | 12/20/24 | $31.6 | $30.6 | $31.6 | $330.00 | $34.7K | 10 | 40 |
| CHTR | CALL | TRADE | BEARISH | 01/16/26 | $66.9 | $63.0 | $63.0 | $350.00 | $31.5K | 94 | 3 |
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.
After a thorough review of the options trading surrounding Charter Communications, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Charter Communications Standing Right Now?
- With a volume of 765,007, the price of CHTR is up 0.97% at $330.58.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 9 days.
What The Experts Say On Charter Communications
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $252.5.
- In a cautious move, an analyst from Goldman Sachs downgraded its rating to Sell, setting a price target of $250.
- An analyst from Citigroup downgraded its action to Sell with a price target of $255.
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 Charter Communications with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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