This Is What Whales Are Betting On Roku

Someone with a lot of money to spend has taken a bearish stance on Roku ROKU.

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 ROKU, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 17 uncommon options trades for Roku.

This isn't normal.

The overall sentiment of these big-money traders is split between 47.06% bullish and 52.94%, bearish.

Out of all of the special options we uncovered, 12 are puts, for a total amount of $480,210.00, and 5 are calls, for a total amount of $184,640.00.

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 $232.5 to $350.0 for Roku over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Roku options trades today is 771.5 with a total volume of 1,422.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Roku's big money trades within a strike price range of $232.5 to $350.0 over the last 30 days.

Roku Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Roku Standing Right Now?

• With a volume of 2,199,829.00, the price of ROKU is up 0.29% at $236.55.
• RSI indicators hint that the underlying stock may be oversold.
• Next earnings are expected to be released in 90 days.

What The Experts Say On Roku:

• Keybanc has decided to maintain their Overweight rating on Roku, which currently sits at a price target of $430.0.
• Truist Securities has decided to maintain their Buy rating on Roku, which currently sits at a price target of $360.0.
• Pivotal Research has decided to maintain their Hold rating on Roku, which currently sits at a price target of $350.0.
• Morgan Stanley has decided to maintain their Underweight rating on Roku, which currently sits at a price target of $295.0.
• Rosenblatt has decided to maintain their Buy rating on Roku, which currently sits at a price target of $500.0.

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.