High-rolling investors have positioned themselves bearish 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 13 options trades for Roku. This is not a typical pattern.
The sentiment among these major traders is split, with 46% bullish and 53% bearish. Among all the options we identified, there was one put, amounting to $90,270, and 12 calls, totaling $855,362.
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 $60.0 to $80.0 for Roku over the last 3 months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Roku stands at 1312.27, with a total volume reaching 1,381.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Roku, situated within the strike price corridor from $60.0 to $80.0, throughout the last 30 days.
Roku 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ROKU | CALL | SWEEP | BULLISH | 01/16/26 | $60.00 | $250.5K | 422 | 101 |
| ROKU | CALL | SWEEP | BULLISH | 09/20/24 | $75.00 | $116.6K | 339 | 144 |
| ROKU | CALL | SWEEP | BULLISH | 06/21/24 | $65.00 | $96.7K | 1.5K | 6 |
| ROKU | CALL | TRADE | BULLISH | 09/20/24 | $65.00 | $93.2K | 913 | 3 |
| ROKU | PUT | TRADE | BEARISH | 06/21/24 | $65.00 | $90.2K | 2.1K | 128 |
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.
Following our analysis of the options activities associated with Roku, we pivot to a closer look at the company's own performance.
Present Market Standing of Roku
- With a volume of 3,894,699, the price of ROKU is up 2.49% at $64.95.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 36 days.
What The Experts Say On Roku
In the last month, 2 experts released ratings on this stock with an average target price of $75.5.
- In a cautious move, an analyst from Wells Fargo downgraded its rating to Underweight, setting a price target of $51.
- An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $100.
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 Roku, Benzinga Pro gives you real-time options trades 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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