Financial giants have made a conspicuous bearish move on Netflix. Our analysis of options history for Netflix (NASDAQ:NFLX) revealed 24 unusual trades.
Delving into the details, we found 41% of traders were bullish, while 58% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $91,250, and 21 were calls, valued at $1,361,874.
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 $540.0 for Netflix over the last 3 months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $5.0 to $540.0 in the last 30 days.
Netflix Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NFLX | CALL | TRADE | BULLISH | 01/19/24 | $5.00 | $182.0K | 279 | 17 |
| NFLX | CALL | TRADE | BULLISH | 01/19/24 | $5.00 | $182.0K | 279 | 12 |
| NFLX | CALL | TRADE | NEUTRAL | 01/19/24 | $500.00 | $136.5K | 6.7K | 100 |
| NFLX | CALL | TRADE | BULLISH | 12/15/23 | $375.00 | $101.4K | 1.8K | 0 |
| NFLX | CALL | TRADE | NEUTRAL | 01/19/24 | $5.00 | $91.6K | 279 | 58 |
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.
Following our analysis of the options activities associated with Netflix, we pivot to a closer look at the company's own performance.
Netflix's Current Market Status
- Currently trading with a volume of 906,314, the NFLX's price is up by 0.82%, now at $465.74.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 63 days.
Expert Opinions on Netflix
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $477.8.
- Consistent in their evaluation, an analyst from Rosenblatt keeps a Neutral rating on Netflix with a target price of $404.
- In a positive move, an analyst from Morgan Stanley has upgraded their rating to Overweight and adjusted the price target to $475.
- In a positive move, an analyst from Keybanc has upgraded their rating to Overweight and adjusted the price target to $510.
- Reflecting concerns, an analyst from Wedbush lowers its rating to Outperform with a new price target of $525.
- An analyst from Oppenheimer has decided to maintain their Outperform rating on Netflix, which currently sits at a price target of $475.
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.