Looking At Netflix's Recent Whale Trades

Someone with a lot of money to spend (and possibly insider knowledge) has taken a bearish stance on NetflixNFLX.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with NFLX, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 23 options trades for Netflix.

This isn't normal.

The overall sentiment of these big-money traders is split between 39.13% bullish and 60.87%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $28,812, and 22, calls, for a total amount of $1,453,030..

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 $520.0 to $700.0 for Netflix over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Netflix options trades today is 1725.0 with a total volume of 41,491.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Netflix's big money trades within a strike price range of $520.0 to $700.0 over the last 30 days.

Netflix Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Netflix Standing Right Now?

• With a volume of 1,585,782, the price of NFLX is down -0.09% at $664.2.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 85 days.

What The Experts Say On Netflix:

• Benchmark has decided to maintain their Sell rating on Netflix, which currently sits at a price target of $493.0.
• Stifel has decided to maintain their Buy rating on Netflix, which currently sits at a price target of $690.0.
• Keybanc has decided to maintain their Overweight rating on Netflix, which currently sits at a price target of $670.0.
• Jefferies has decided to maintain their Buy rating on Netflix, which currently sits at a price target of $737.0.
• Credit Suisse has decided to maintain their Outperform rating on Netflix, which currently sits at a price target of $740.0.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.