Looking At Netflix's Recent Unusual Options Activity

Deep-pocketed investors have adopted a bearish approach towards Netflix NFLX, 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 NFLX usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 39 extraordinary options activities for Netflix. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 25% leaning bullish and 41% bearish. Among these notable options, 14 are puts, totaling $2,673,237, and 25 are calls, amounting to $1,798,956.

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Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $700.0 and $2360.0 for Netflix, spanning the last three months.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Netflix's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Netflix's significant trades, within a strike price range of $700.0 to $2360.0, over the past month.

Netflix Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Netflix

Netflix's relatively simple business model involves only one business, its streaming service. It has the biggest television entertainment subscriber base in both the United States and the collective international market, with more than 300 million subscribers globally. Netflix has exposure to nearly the entire global population outside of China. The firm has traditionally avoided a regular slate of live programming or sports content, instead focusing on on-demand access to episodic television, movies, and documentaries. The firm introduced ad-supported subscription plans in 2022, giving the firm exposure to the advertising market in addition to the subscription fees that have historically accounted for nearly all its revenue.

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

Where Is Netflix Standing Right Now?

• Trading volume stands at 305,226, with NFLX's price up by 0.12%, positioned at $1208.7.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 45 days.

Professional Analyst Ratings for Netflix

In the last month, 4 experts released ratings on this stock with an average target price of $1287.5.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Baird persists with their Outperform rating on Netflix, maintaining a target price of $1300. * Consistent in their evaluation, an analyst from Canaccord Genuity keeps a Buy rating on Netflix with a target price of $1380. * An analyst from Citigroup has decided to maintain their Neutral rating on Netflix, which currently sits at a price target of $1250. * An analyst from JP Morgan downgraded its action to Neutral with a price target of $1220.

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