Deep-pocketed investors have adopted a bearish 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 12 extraordinary options activities for Netflix. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 50% bearish. Among these notable options, 6 are puts, totaling $221,715, and 6 are calls, amounting to $835,455.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $680.0 and $765.0 for Netflix, spanning the last three months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Netflix's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Netflix's significant trades, within a strike price range of $680.0 to $765.0, over the past month.
Netflix 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NFLX | CALL | SWEEP | BEARISH | 12/19/25 | $131.4 | $129.6 | $129.6 | $700.00 | $648.0K | 121 | 50 |
| NFLX | CALL | TRADE | BEARISH | 01/17/25 | $62.05 | $59.6 | $60.4 | $700.00 | $60.4K | 1.5K | 0 |
| NFLX | PUT | TRADE | BULLISH | 01/17/25 | $35.8 | $35.2 | $35.2 | $680.00 | $56.3K | 831 | 16 |
| NFLX | PUT | TRADE | NEUTRAL | 01/17/25 | $44.15 | $42.95 | $43.6 | $700.00 | $43.6K | 775 | 10 |
| NFLX | CALL | SWEEP | NEUTRAL | 11/15/24 | $39.55 | $37.95 | $38.7 | $710.00 | $38.7K | 374 | 10 |
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 more than 275 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.
Current Position of Netflix
- With a volume of 63,082, the price of NFLX is down -0.41% at $704.47.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 17 days.
Expert Opinions on Netflix
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $635.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Rosenblatt persists with their Neutral rating on Netflix, maintaining a target price of $635.
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 Netflix with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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