Spotlight on Roku: Analyzing the Surge in Options Activity

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

We gleaned this information from our observations today when Benzinga's options scanner highlighted 23 extraordinary options activities for Roku. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 43% leaning bullish and 56% bearish. Among these notable options, 11 are puts, totaling $531,354, and 12 are calls, amounting to $509,320.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $20.0 to $115.0 for Roku during the past quarter.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Roku stands at 896.83, with a total volume reaching 1,973.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Roku, situated within the strike price corridor from $20.0 to $115.0, throughout the last 30 days.

Roku 30-Day Option Volume & Interest Snapshot

Options Call Chart

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
ROKU PUT SWEEP BULLISH 06/21/24 $80.00 $95.9K 671 266
ROKU CALL TRADE BULLISH 01/17/25 $20.00 $86.9K 84 0
ROKU PUT SWEEP BEARISH 06/21/24 $90.00 $73.1K 595 149
ROKU PUT SWEEP BULLISH 06/21/24 $80.00 $73.0K 671 0
ROKU CALL SWEEP NEUTRAL 12/01/23 $81.00 $57.4K 112 27

About Roku

Roku is the leading streaming platform in the U.S. by hours watched with 87.4 billion hours of content streamed in 2022. The firm's namesake operating system is used not only in Roku's own hardware but in cobranded TVs and soundbars from manufacturers like TCL, Onn, and Hisense. Roku generates revenue from advertising, distribution fees, hardware sales, OS licensing, and subscription sales.

Roku's Current Market Status

  • With a trading volume of 4,579,082, the price of ROKU is down by -0.75%, reaching $103.42.
  • Current RSI values indicate that the stock is may be overbought.
  • Next earnings report is scheduled for 75 days from now.

Professional Analyst Ratings for Roku

3 market experts have recently issued ratings for this stock, with a consensus target price of $97.0.

  • Showing optimism, an analyst from Cannonball Research upgrades its rating to Buy with a revised price target of $116.
  • An analyst from Pivotal Research has elevated its stance to Hold, setting a new price target at $75.
  • Maintaining their stance, an analyst from Susquehanna continues to hold a Positive rating for Roku, targeting a price of $100.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Roku with Benzinga Pro for real-time alerts.

Market News and Data brought to you by Benzinga APIs
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