A whale with a lot of money to spend has taken a noticeably bearish stance on Netflix.
Looking at options history for Netflix (NASDAQ:NFLX) we detected 45 strange trades.
If we consider the specifics of each trade, it is accurate to state that 48% of the investors opened trades with bullish expectations and 51% with bearish.
From the overall spotted trades, 11 are puts, for a total amount of $994,692 and 34, calls, for a total amount of $2,163,881.
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 $100.0 to $600.0 for Netflix over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Netflix options trades today is 883.86 with a total volume of 19,170.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Netflix’s big money trades within a strike price range of $100.0 to $600.0 over 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 | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NFLX | PUT | TRADE | BEARISH | 07/21/23 | $450.00 | $315.5K | 284 | 154 |
| NFLX | CALL | SWEEP | BEARISH | 07/14/23 | $435.00 | $298.6K | 283 | 238 |
| NFLX | CALL | SWEEP | BULLISH | 11/17/23 | $540.00 | $270.6K | 182 | 310 |
| NFLX | PUT | TRADE | BEARISH | 07/21/23 | $435.00 | $225.5K | 709 | 247 |
| NFLX | CALL | SWEEP | BULLISH | 06/30/23 | $425.00 | $192.0K | 305 | 152 |
Where Is Netflix Standing Right Now?
- With a volume of 2,502,984, the price of NFLX is up 0.55% at $434.31.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 28 days.
What The Experts Say On Netflix:
- Wells Fargo has decided to maintain their Overweight rating on Netflix, which currently sits at a price target of $500.
- B of A Securities has decided to maintain their Buy rating on Netflix, which currently sits at a price target of $490.
- Guggenheim has decided to maintain their Buy rating on Netflix, which currently sits at a price target of $500.
- Barclays has decided to maintain their Equal-Weight rating on Netflix, which currently sits at a price target of $375.
- Oppenheimer has decided to maintain their Outperform rating on Netflix, which currently sits at a price target of $450.
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.
