Investors with significant funds have taken a bullish position in Charter Communications CHTR, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in CHTR usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 12 options transactions for Charter Communications. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 66% being bullish and 33% bearish. Of all the options we discovered, 11 are puts, valued at $547,592, and there was a single call, worth $46,020.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $300.0 and $370.0 for Charter Communications, spanning the last three months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Charter Communications's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Charter Communications's substantial trades, within a strike price spectrum from $300.0 to $370.0 over the preceding 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 | 06/20/25 | $24.0 | $22.3 | $24.0 | $310.00 | $100.8K | 49 | 0 |
| CHTR | PUT | SWEEP | BEARISH | 08/16/24 | $9.4 | $7.5 | $9.4 | $360.00 | $78.2K | 40 | 110 |
| CHTR | PUT | TRADE | BULLISH | 08/16/24 | $11.6 | $8.7 | $9.4 | $360.00 | $75.2K | 40 | 190 |
| CHTR | PUT | SWEEP | BULLISH | 08/16/24 | $11.3 | $8.7 | $9.2 | $360.00 | $70.8K | 40 | 267 |
| CHTR | CALL | TRADE | BULLISH | 09/20/24 | $11.8 | $11.2 | $11.8 | $370.00 | $46.0K | 369 | 39 |
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 58 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
Present Market Standing of Charter Communications
- With a volume of 447,833, the price of CHTR is down -3.6% at $351.3.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 74 days.
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 Charter Communications 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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