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 positions 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.
Today, Benzinga's options scanner spotted 8 options trades for Charter Communications.
This isn't normal.
The overall sentiment of these big-money traders is split between 75% bullish and 12%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $158,000, and 7, calls, for a total amount of $377,753.
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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 $220.0 to $400.0 for Charter Communications during the past quarter.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $220.0 to $400.0 in the last 30 days.
Charter Communications Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CHTR | PUT | TRADE | BEARISH | 12/20/24 | $16.0 | $15.1 | $15.8 | $220.00 | $158.0K | 0 | 100 |
| CHTR | CALL | TRADE | NEUTRAL | 01/17/25 | $7.8 | $7.0 | $7.4 | $400.00 | $148.0K | 2.4K | 200 |
| CHTR | CALL | SWEEP | BULLISH | 08/16/24 | $20.7 | $20.3 | $20.7 | $280.00 | $55.8K | 42 | 122 |
| CHTR | CALL | SWEEP | BULLISH | 09/20/24 | $24.1 | $23.9 | $23.9 | $280.00 | $45.5K | 48 | 36 |
| CHTR | CALL | SWEEP | BULLISH | 09/20/24 | $23.9 | $23.7 | $23.7 | $280.00 | $33.1K | 48 | 18 |
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 57 million US 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 US 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.
Charter Communications's Current Market Status
- With a volume of 703,385, the price of CHTR is down -0.02% at $265.17.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 4 days.
What The Experts Say On Charter Communications
5 market experts have recently issued ratings for this stock, with a consensus target price of $313.4.
- An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on Charter Communications, which currently sits at a price target of $290.
- Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Charter Communications with a target price of $325.
- An analyst from JP Morgan persists with their Neutral rating on Charter Communications, maintaining a target price of $335.
- An analyst from Rosenblatt persists with their Neutral rating on Charter Communications, maintaining a target price of $297.
- Consistent in their evaluation, an analyst from Deutsche Bank keeps a Hold rating on Charter Communications with a target price of $320.
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 Charter Communications, Benzinga Pro gives you real-time options trades alerts.
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