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Deep-pocketed investors have adopted a bullish approach towards Netflix (NASDAQ: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 9 extraordinary options activities for Netflix. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 33% bearish. Among these notable options, 4 are puts, totaling $113,551, and 5 are calls, amounting to $257,610.
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $440.0 to $700.0 for Netflix over the last 3 months.
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Netflix's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Netflix's significant trades, within a strike price range of $440.0 to $700.0, over the past month.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NFLX | CALL | TRADE | BULLISH | 09/20/24 | $25.4 | $24.35 | $25.4 | $700.00 | $104.1K | 1.5K | 41 |
| NFLX | CALL | TRADE | BEARISH | 06/14/24 | $10.0 | $8.2 | $8.37 | $642.50 | $50.2K | 120 | 19 |
| NFLX | CALL | TRADE | BEARISH | 01/17/25 | $101.0 | $97.85 | $97.85 | $600.00 | $39.1K | 1.9K | 4 |
| NFLX | PUT | SWEEP | BEARISH | 06/14/24 | $10.85 | $10.15 | $10.85 | $642.50 | $32.5K | 1.0K | 79 |
| NFLX | CALL | TRADE | BULLISH | 06/14/24 | $16.9 | $16.25 | $16.9 | $625.00 | $32.1K | 157 | 19 |
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 almost 250 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.
Having examined the options trading patterns of Netflix, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
5 market experts have recently issued ratings for this stock, with a consensus target price of $611.8.
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.
Posted In: NFLX
