This Is What Whales Are Betting On Netflix

Financial giants have made a conspicuous bullish move on Netflix. Our analysis of options history for Netflix NFLX revealed 39 unusual trades.

Delving into the details, we found 46% of traders were bullish, while 25% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $388,374, and 34 were calls, valued at $2,613,150.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $5.0 to $1180.0 for Netflix over the last 3 months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Netflix stands at 378.18, with a total volume reaching 3,861.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Netflix, situated within the strike price corridor from $5.0 to $1180.0, throughout the last 30 days.

Netflix 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

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 280 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.

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

Current Position of Netflix

• With a trading volume of 776,020, the price of NFLX is up by 0.98%, reaching $920.38.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 28 days from now.

Professional Analyst Ratings for Netflix

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $978.0.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from UBS has decided to maintain their Buy rating on Netflix, which currently sits at a price target of $1040. * An analyst from Loop Capital downgraded its action to Hold with a price target of $950. * An analyst from Evercore ISI Group persists with their Outperform rating on Netflix, maintaining a target price of $950. * An analyst from JP Morgan has decided to maintain their Overweight rating on Netflix, which currently sits at a price target of $1010. * Consistent in their evaluation, an analyst from Canaccord Genuity keeps a Hold rating on Netflix with a target price of $940.

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 Netflix options trades with real-time alerts from Benzinga Pro.