High-rolling investors have positioned themselves bullish on Roku ROKU, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in ROKU often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for Roku. This is not a typical pattern.
The sentiment among these major traders is split, with 87% bullish and 12% bearish. Among all the options we identified, there was one put, amounting to $152,500, and 7 calls, totaling $218,396.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $60.0 and $105.0 for Roku, spanning the last three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Roku'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 Roku's whale activity within a strike price range from $60.0 to $105.0 in the last 30 days.
Roku Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ROKU | PUT | TRADE | BULLISH | 03/15/24 | $85.00 | $152.5K | 376 | 258 |
| ROKU | CALL | SWEEP | BULLISH | 03/15/24 | $105.00 | $36.9K | 298 | 94 |
| ROKU | CALL | SWEEP | BULLISH | 02/16/24 | $85.00 | $35.7K | 2.1K | 42 |
| ROKU | CALL | TRADE | BULLISH | 04/19/24 | $60.00 | $32.9K | 592 | 10 |
| ROKU | CALL | SWEEP | BULLISH | 02/16/24 | $85.00 | $32.6K | 2.1K | 122 |
About Roku
Roku is the leading streaming platform in the U.S. by hours watched with 87.4 billion hours of content streamed in 2022. The firm's namesake operating system is used not only in Roku's own hardware but in cobranded TVs and soundbars from manufacturers like TCL, Onn, and Hisense. Roku generates revenue from advertising, distribution fees, hardware sales, OS licensing, and subscription sales.
After a thorough review of the options trading surrounding Roku, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Roku Standing Right Now?
- With a trading volume of 1,742,638, the price of ROKU is up by 0.17%, reaching $89.15.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 16 days from now.
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 Roku with Benzinga Pro for real-time 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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