Netflix Unusual Options Activity For November 07

Netflix Unusual Options Activity For November 07

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 28 uncommon options trades for Netflix.

This isn't normal.

The overall sentiment of these big-money traders is split between 42% bullish and 57%, bearish.

Out of all of the special options we uncovered, 18 are puts, for a total amount of $1,935,526, and 10 are calls, for a total amount of $655,025.

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 $252.5 to $360.0 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 $252.5 to $360.0 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 SWEEP BEARISH 12/16/22 $280.00 $437.2K 2.5K 30
NFLX PUT SWEEP BEARISH 11/11/22 $260.00 $361.1K 1.7K 362
NFLX PUT TRADE BEARISH 11/18/22 $255.00 $235.4K 3.4K 428
NFLX CALL SWEEP BULLISH 03/17/23 $265.00 $150.9K 271 1
NFLX PUT SWEEP NEUTRAL 11/11/22 $260.00 $129.7K 1.7K 2.3K

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
NFLX PUT SWEEP BEARISH 12/16/22 $280.00 $437.2K 2.5K 30
NFLX PUT SWEEP BEARISH 11/11/22 $260.00 $361.1K 1.7K 362
NFLX PUT TRADE BEARISH 11/18/22 $255.00 $235.4K 3.4K 428
NFLX CALL SWEEP BULLISH 03/17/23 $265.00 $150.9K 271 1
NFLX PUT SWEEP NEUTRAL 11/11/22 $260.00 $129.7K 1.7K 2.3K

Where Is Netflix Standing Right Now?

  • With a volume of 2,072,734, the price of NFLX is down -2.57% at $254.09.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 73 days.

What The Experts Say On Netflix:

  • JP Morgan upgraded its action to Overweight with a price target of $330
  • Benchmark has decided to maintain their Sell rating on Netflix, which currently sits at a price target of $162.
  • UBS has decided to maintain their Neutral rating on Netflix, which currently sits at a price target of $250.
  • Morgan Stanley has decided to maintain their Equal-Weight rating on Netflix, which currently sits at a price target of $250.
  • Oppenheimer has decided to maintain their Outperform rating on Netflix, which currently sits at a price target of $365.

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