Looking At Netflix's Recent Whale Trades

Looking At Netflix's Recent Whale Trades

 

Someone with a lot of money to spend has taken a bearish stance on Netflix NFLX.

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.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 113 uncommon options trades for Netflix.

This isn't normal.

The overall sentiment of these big-money traders is split between 38% bullish and 61%, bearish.

Out of all of the special options we uncovered, 79 are puts, for a total amount of $6,106,131, and 34 are calls, for a total amount of $1,696,432.

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 $180.0 to $900.0 for Netflix over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Netflix'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 Netflix's whale activity within a strike price range from $180.0 to $900.0 in the last 30 days.

Netflix Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

 

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
NFLX PUT TRADE BULLISH 01/19/24 $190.00 $2.4M 1.0K 958
NFLX CALL SWEEP BEARISH 01/20/23 $290.00 $76.3K 741 97
NFLX CALL SWEEP BEARISH 07/21/23 $250.00 $74.8K 215 19
NFLX CALL SWEEP BEARISH 01/20/23 $290.00 $66.4K 741 27
NFLX PUT TRADE BEARISH 01/20/23 $900.00 $65.1K 58 4

Where Is Netflix Standing Right Now?

  • With a volume of 4,107,363, the price of NFLX is down -0.95% at $246.75.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 63 days.

What The Experts Say On Netflix:

  • Macquarie has decided to maintain their Underperform rating on Netflix, which currently sits at a price target of $170.
  • Rosenblatt has decided to maintain their Neutral rating on Netflix, which currently sits at a price target of $196.
  • Piper Sandler has decided to maintain their Neutral rating on Netflix, which currently sits at a price target of $215.
  • Deutsche Bank has decided to maintain their Hold rating on Netflix, which currently sits at a price target of $270.
  • Morgan Stanley has decided to maintain their Equal-Weight rating on Netflix, which currently sits at a price target of $230.

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 Netflix, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets