Charter Communications's Options Frenzy: What You Need to Know

Financial giants have made a conspicuous bullish move on Charter Communications. Our analysis of options history for Charter Communications CHTR revealed 17 unusual trades.

Delving into the details, we found 58% of traders were bullish, while 41% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $444,695, and 9 were calls, valued at $681,351.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $250.0 to $410.0 for Charter Communications during the past quarter.

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 $250.0 to $410.0 in the last 30 days.

Charter Communications Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
CHTR CALL SWEEP BULLISH 03/15/24 $280.00 $119.6K 112 87
CHTR CALL SWEEP BEARISH 03/15/24 $280.00 $112.1K 112 251
CHTR CALL SWEEP BULLISH 03/15/24 $285.00 $104.8K 5 27
CHTR CALL SWEEP BULLISH 03/15/24 $285.00 $99.2K 5 158
CHTR PUT SWEEP BEARISH 03/08/24 $280.00 $91.4K 232 3

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.

Where Is Charter Communications Standing Right Now?

  • Trading volume stands at 1,295,190, with CHTR's price up by 0.29%, positioned at $294.0.
  • RSI indicators show the stock to be is currently neutral between overbought and oversold.
  • Earnings announcement expected in 53 days.

Professional Analyst Ratings for Charter Communications

5 market experts have recently issued ratings for this stock, with a consensus target price of $395.4.

  • An analyst from Rosenblatt has decided to maintain their Buy rating on Charter Communications, which currently sits at a price target of $472.
  • Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Charter Communications with a target price of $360.
  • An analyst from Benchmark persists with their Buy rating on Charter Communications, maintaining a target price of $440.
  • Reflecting concerns, an analyst from JP Morgan lowers its rating to Neutral with a new price target of $370.
  • An analyst from Rosenblatt has revised its rating downward to Neutral, adjusting the price target to $335.

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 Charter Communications with Benzinga Pro for real-time alerts.

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Date of Trade
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Posted In: OptionsMarketsBZI-UOA
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