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 11 extraordinary options activities for Netflix. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 27% leaning bullish and 72% bearish. Among these notable options, 4 are puts, totaling $164,821, and 7 are calls, amounting to $308,078.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $400.0 to $490.0 for Netflix over the last 3 months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Netflix stands at 1258.4, with a total volume reaching 3,723.00. 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 $400.0 to $490.0, throughout the last 30 days.
Netflix Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NFLX | CALL | SWEEP | NEUTRAL | 12/01/23 | $480.00 | $67.8K | 1.9K | 955 |
| NFLX | PUT | TRADE | BULLISH | 03/15/24 | $490.00 | $50.1K | 61 | 7 |
| NFLX | CALL | TRADE | NEUTRAL | 03/15/24 | $460.00 | $49.8K | 667 | 12 |
| NFLX | PUT | SWEEP | BEARISH | 01/17/25 | $450.00 | $48.4K | 1.1K | 84 |
| NFLX | CALL | SWEEP | BEARISH | 11/24/23 | $485.00 | $45.2K | 2.1K | 1.7K |
About Netflix
Netflix's primary business is a streaming video on demand service now available in almost every country worldwide except China. The firm primarily generates revenue from subscriptions to its eponymous service. Netflix delivers original and third-party digital video content to PCs, internet-connected TVs, and consumer electronic devices, including tablets, video game consoles, Apple TV, Roku, and Chromecast. Netflix is the largest SVOD platform in the world with over 220 million subscribers globally.
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
- Currently trading with a volume of 628,674, the NFLX's price is up by 0.26%, now at $476.17.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 57 days.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Netflix, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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