Investors with a lot of money to spend have taken a bullish 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 34 uncommon options trades for Netflix.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 35%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $862,546, and 27 are calls, for a total amount of $3,012,220.
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 $230.0 to $870.0 for Netflix over the last 3 months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Netflix's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Netflix's whale activity within a strike price range from $230.0 to $870.0 in the last 30 days.
Netflix Option Volume And Open Interest Over 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 | NEUTRAL | 01/17/25 | $41.3 | $38.4 | $39.87 | $805.00 | $649.9K | 317 | 386 |
| NFLX | CALL | SWEEP | NEUTRAL | 01/17/25 | $31.6 | $28.7 | $30.12 | $825.00 | $490.7K | 700 | 342 |
| NFLX | PUT | SWEEP | BULLISH | 12/20/24 | $17.45 | $17.0 | $17.0 | $800.00 | $425.0K | 331 | 504 |
| NFLX | PUT | SWEEP | BULLISH | 12/20/24 | $17.5 | $17.1 | $17.1 | $800.00 | $229.1K | 331 | 721 |
| NFLX | CALL | SWEEP | BEARISH | 01/17/25 | $42.7 | $40.0 | $41.35 | $805.00 | $208.6K | 317 | 222 |
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.
Following our analysis of the options activities associated with Netflix, we pivot to a closer look at the company's own performance.
Present Market Standing of Netflix With a trading volume of 766,089, the price of NFLX is up by 1.08%, reaching $814.11. Current RSI values indicate that the stock is may be overbought. Next earnings report is scheduled for 70 days from now. Professional Analyst Ratings for Netflix
In the last month, 5 experts released ratings on this stock with an average target price of $737.0.
Turn $1000 into $1270 in just 20 days?
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. * Maintaining their stance, an analyst from Rosenblatt continues to hold a Neutral rating for Netflix, targeting a price of $680. * An analyst from UBS has decided to maintain their Buy rating on Netflix, which currently sits at a price target of $825. * Consistent in their evaluation, an analyst from Loop Capital keeps a Buy rating on Netflix with a target price of $800. * Maintaining their stance, an analyst from Benchmark continues to hold a Sell rating for Netflix, targeting a price of $555. * Maintaining their stance, an analyst from Guggenheim continues to hold a Buy rating for Netflix, targeting a price of $825.
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
