Investors with a lot of money to spend have taken a bearish stance on Charter Communications CHTR.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CHTR, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 16 uncommon options trades for Charter Communications.
This isn't normal.
The overall sentiment of these big-money traders is split between 31% bullish and 68%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $503,065, and 9 are calls, for a total amount of $2,283,242.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $170.0 to $540.0 for Charter Communications over the recent three months.
Insights into 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 Charter Communications'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 Charter Communications's whale activity within a strike price range from $170.0 to $540.0 in the last 30 days.
Charter Communications 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 |
|---|---|---|---|---|---|---|---|---|
| CHTR | CALL | TRADE | BEARISH | 01/17/25 | $220.00 | $866.2K | 0 | 200 |
| CHTR | CALL | TRADE | BEARISH | 01/17/25 | $220.00 | $866.2K | 0 | 100 |
| CHTR | CALL | TRADE | BULLISH | 01/17/25 | $320.00 | $218.2K | 4 | 75 |
| CHTR | PUT | SWEEP | BEARISH | 03/15/24 | $320.00 | $103.2K | 293 | 30 |
| CHTR | PUT | TRADE | BEARISH | 03/01/24 | $350.00 | $95.2K | 55 | 15 |
About Charter Communications
Charter is the product of the 2016 merger of three cable companies, each with a decades-long history in the business: Legacy Charter, Time Warner Cable, and Bright House Networks. The firm now holds networks capable of providing television, internet access, and phone services to roughly 56 million U.S. homes and businesses, around 40% of the country. Across this footprint, Charter serves 30 million residential and 2 million commercial customer accounts under the Spectrum brand, making it the second-largest U.S. cable company behind Comcast. The firm also owns, in whole or in part, sports and news networks, including Spectrum SportsNet (long-term local rights to Los Angeles Lakers games), SportsNet LA (Los Angeles Dodgers), SportsNet New York (New York Mets), and Spectrum News NY1.
Present Market Standing of Charter Communications
- Trading volume stands at 2,472,813, with CHTR's price down by -0.1%, positioned at $290.0.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 79 days.
What The Experts Say On Charter Communications
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $384.4.
- Maintaining their stance, an analyst from Benchmark continues to hold a Buy rating for Charter Communications, targeting a price of $440.
- Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Charter Communications, targeting a price of $360.
- An analyst from JP Morgan has revised its rating downward to Neutral, adjusting the price target to $370.
- An analyst from Barclays has decided to maintain their Underweight rating on Charter Communications, which currently sits at a price target of $280.
- An analyst from Rosenblatt persists with their Buy rating on Charter Communications, maintaining a target price of $472.
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 Charter Communications options trades with real-time alerts from Benzinga Pro.
© 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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