This Is What Whales Are Betting On Comcast

Investors with a lot of money to spend have taken a bearish stance on Comcast CMCSA.

And retail traders should know.

We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CMCSA, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 8 options trades for Comcast.

This isn't normal.

The overall sentiment of these big-money traders is split between 0% bullish and 100%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $36,400, and 7, calls, for a total amount of $477,281.

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 $32.5 and $42.5 for Comcast, spanning the last three months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Comcast options trades today is 3665.67 with a total volume of 14,338.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Comcast's big money trades within a strike price range of $32.5 to $42.5 over the last 30 days.

Comcast Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

About Comcast

Comcast is made up of three parts. The core cable business owns networks capable of providing television, internet access, and phone services to 63 million US homes and businesses, or nearly half of the country. About 50% of the locations in this territory subscribe to at least one Comcast service. Comcast acquired NBCUniversal from General Electric in 2011. NBCU owns several cable networks, including CNBC, MSNBC, and USA, the NBC network, the Peacock streaming platform, several local NBC affiliates, Universal Studios, and several theme parks. Sky, acquired in 2018, is a large television provider in the UK and has invested heavily in proprietary content to build this position. Sky is also a large pay-television provider in Italy and has a presence in Germany and Austria.

After a thorough review of the options trading surrounding Comcast, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is Comcast Standing Right Now?

• Trading volume stands at 3,605,206, with CMCSA's price down by -0.78%, positioned at $41.45.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 30 days.

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.

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 Comcast with Benzinga Pro for real-time alerts.