Whales with a lot of money to spend have taken a noticeably bearish stance on Netflix.
Looking at options history for Netflix (NASDAQ:NFLX) we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 25% of the investors opened trades with bullish expectations and 75% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $51,650 and 6, calls, for a total amount of $235,737.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $350.0 to $670.0 for Netflix over the recent three months.
Insights into Volume & Open Interest
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 $350.0 to $670.0, over the past month.
Netflix Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
NFLX | CALL | TRADE | BEARISH | 07/05/24 | $18.5 | $17.4 | $17.4 | $670.00 | $69.6K | 204 | 0 |
NFLX | CALL | SWEEP | BULLISH | 06/28/24 | $19.65 | $17.9 | $18.59 | $660.00 | $39.8K | 183 | 0 |
NFLX | CALL | TRADE | BULLISH | 06/21/24 | $12.85 | $12.0 | $12.85 | $660.00 | $32.1K | 1.1K | 39 |
NFLX | CALL | TRADE | BEARISH | 07/12/24 | $33.75 | $32.0 | $32.0 | $650.00 | $32.0K | 116 | 0 |
NFLX | CALL | TRADE | BEARISH | 06/21/24 | $320.7 | $318.5 | $318.5 | $350.00 | $31.8K | 296 | 0 |
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 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.
In light of the recent options history for Netflix, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Netflix Standing Right Now?
With a trading volume of 110,856, the price of NFLX is up by 0.16%, reaching $670.43.
Current RSI values indicate that the stock is may be approaching overbought.
Next earnings report is scheduled for 31 days from now.
What Analysts Are Saying About Netflix
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $708.0.
An analyst from Needham downgraded its action to Buy with a price target of $700.
An analyst from Keybanc persists with their Overweight rating on Netflix, maintaining a target price of $707.
Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Netflix with a target price of $700.
Reflecting concerns, an analyst from Wedbush lowers its rating to Outperform with a new price target of $725.
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.