Investors with a lot of money to spend have taken a bearish stance on Netflix (NASDAQ:NFLX).
And retail traders should know.
We noticed this today when the trades 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 NFLX, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 101 uncommon options trades for Netflix.
This isn't normal.
The overall sentiment of these big-money traders is split between 32% bullish and 45%, bearish.
Out of all of the special options we uncovered, 20 are puts, for a total amount of $1,113,746, and 81 are calls, for a total amount of $5,831,306.
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 $650.0 to $1780.0 for Netflix over the last 3 months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Netflix options trades today is 372.96 with a total volume of 16,664.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Netflix's big money trades within a strike price range of $650.0 to $1780.0 over the last 30 days.
Netflix 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NFLX | CALL | SWEEP | BEARISH | 01/21/28 | $638.1 | $632.6 | $632.6 | $650.00 | $632.7K | 0 | 1 |
| NFLX | CALL | SWEEP | BEARISH | 09/26/25 | $11.2 | $10.8 | $10.8 | $1205.00 | $481.7K | 353 | 428 |
| NFLX | CALL | SWEEP | BEARISH | 12/19/25 | $35.85 | $34.95 | $34.95 | $1340.00 | $251.6K | 1.4K | 86 |
| NFLX | PUT | SWEEP | BEARISH | 03/20/26 | $76.8 | $76.75 | $76.75 | $1140.00 | $191.9K | 163 | 32 |
| NFLX | CALL | SWEEP | BULLISH | 09/26/25 | $12.7 | $12.1 | $12.49 | $1200.00 | $191.2K | 248 | 2.0K |
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 300 million subscribers globally. Netflix has exposure to nearly the entire global population outside of China. The firm has traditionally avoided a regular slate of live programming or sports content, instead focusing on on-demand access to episodic television, movies, and documentaries. The firm introduced ad-supported subscription plans in 2022, giving the firm exposure to the advertising market in addition to the subscription fees that have historically accounted for nearly all its revenue.
Where Is Netflix Standing Right Now?
- Currently trading with a volume of 1,360,031, the NFLX's price is down by -1.47%, now at $1200.61.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 27 days.
What The Experts Say On Netflix
2 market experts have recently issued ratings for this stock, with a consensus target price of $1425.0.
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. * Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $1500. * An analyst from Loop Capital upgraded its action to Buy with a price target of $1350.
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.
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
