Spotlight on Comcast: Analyzing the Surge in Options Activity

Deep-pocketed investors have adopted a bullish approach towards Comcast CMCSA, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CMCSA usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Comcast. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 50% leaning bullish and 37% bearish. Among these notable options, 3 are puts, totaling $122,882, and 5 are calls, amounting to $450,042.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $35.0 to $42.5 for Comcast over the recent three months.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Comcast's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Comcast's significant trades, within a strike price range of $35.0 to $42.5, over the past month.

Comcast Option Volume And Open Interest Over 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
CMCSA CALL TRADE NEUTRAL 09/20/24 $1.65 $1.61 $1.63 $40.00 $163.0K 4.8K 3.4K
CMCSA CALL TRADE BULLISH 09/20/24 $1.64 $1.6 $1.64 $40.00 $107.5K 4.8K 673
CMCSA CALL SWEEP BULLISH 09/20/24 $1.64 $1.63 $1.64 $40.00 $75.6K 4.8K 1.6K
CMCSA CALL SWEEP BEARISH 09/20/24 $1.64 $1.63 $1.63 $40.00 $75.4K 4.8K 1.2K
CMCSA PUT TRADE BULLISH 01/17/25 $2.49 $2.44 $2.44 $37.50 $66.8K 7.3K 279

About Comcast

Comcast is made up of three parts. The core cable business owns networks capable of providing television, internet access, and phone services to 63 million US homes and businesses, or nearly half of the country. About 55% of the locations in this territory subscribe to at least one Comcast service. Comcast acquired NBCUniversal from General Electric in 2011. NBCU owns several cable networks, including CNBC, MSNBC, and USA, the NBC network, the Peacock streaming platform, several local NBC affiliates, Universal Studios, and several theme parks. Sky, acquired in 2018, is the dominant television provider in the UK and has invested heavily in proprietary content to build this position. Sky is also the largest pay-television provider in Italy and has a presence in Germany and Austria.

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

Present Market Standing of Comcast

  • With a volume of 26,138,474, the price of CMCSA is up 0.03% at $38.5.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 79 days.

Expert Opinions on Comcast

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $47.05.

  • An analyst from Exane BNP Paribas has revised its rating downward to Neutral, adjusting the price target to $45.
  • Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Comcast with a target price of $43.
  • An analyst from Benchmark has revised its rating downward to Buy, adjusting the price target to $55.
  • Consistent in their evaluation, an analyst from Scotiabank keeps a Sector Perform rating on Comcast with a target price of $47.
  • An analyst from Rosenblatt has decided to maintain their Neutral rating on Comcast, which currently sits at a price target of $45.

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 Comcast options trades with real-time alerts from Benzinga Pro.

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