Charter Communications Unusual Options Activity

Investors with a lot of money to spend have taken a bullish 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 17 uncommon options trades for Charter Communications.

This isn't normal.

The overall sentiment of these big-money traders is split between 76% bullish and 23%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $270,340, and 13 are calls, for a total amount of $1,529,390.

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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 $250.0 and $370.0 for Charter Communications, spanning the last three months.

Volume & Open Interest Trends

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Charter Communications's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Charter Communications's significant trades, within a strike price range of $250.0 to $370.0, over the past month.

Charter Communications 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

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.

Following our analysis of the options activities associated with Charter Communications, we pivot to a closer look at the company's own performance.

Current Position of Charter Communications

• With a trading volume of 1,166,314, the price of CHTR is up by 0.23%, reaching $284.44.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 46 days from now.

What Analysts Are Saying About Charter Communications

In the last month, 1 experts released ratings on this stock with an average target price of $335.0.

• In a cautious move, an analyst from Rosenblatt downgraded its rating to Neutral, setting a price target of $335.

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.