Financial giants have made a conspicuous bullish move on Netflix. Our analysis of options history for Netflix (NASDAQ:NFLX) revealed 121 unusual trades.

Delving into the details, we found 47% of traders were bullish, while 38% showed bearish tendencies. Out of all the trades we spotted, 55 were puts, with a value of $5,093,556, and 66 were calls, valued at $5,101,172.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $2.0 to $120.0 for Netflix over the recent three months.

Analyzing Volume & Open Interest

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 $2.0 to $120.0 in the last 30 days.

Netflix Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
NFLX	PUT	SWEEP	BEARISH	03/20/26	$4.15	$4.1	$4.15	$83.00	$682.5K	1.8K	11.5K
NFLX	CALL	SWEEP	BULLISH	12/17/27	$9.0	$8.75	$9.0	$120.00	$450.0K	4.2K	756
NFLX	PUT	SWEEP	BEARISH	08/21/26	$4.1	$4.05	$4.05	$73.00	$412.6K	32	42.3K
NFLX	PUT	SWEEP	BEARISH	09/18/26	$8.65	$8.6	$8.65	$83.00	$330.4K	434	394
NFLX	PUT	SWEEP	BEARISH	03/20/26	$4.0	$3.85	$3.96	$83.00	$274.3K	1.8K	12.8K

About Netflix

Netflix's relatively simple business model involves only one business, its streaming service. It has the biggest television entertainment subscriber base in both the United States and the collective international market, with more than 300 million subscribers globally. Netflix has exposure to nearly the entire global population outside of China. The firm has traditionally avoided a regular slate of live programming or sports content, instead focusing on on-demand access to episodic television, movies, and documentaries. The firm introduced ad-supported subscription plans in 2022, giving the firm exposure to the advertising market in addition to the subscription fees that have historically accounted for nearly all its revenue.

After a thorough review of the options trading surrounding Netflix, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Netflix's Current Market Status

• Trading volume stands at 83,085,922, with NFLX's price down by -4.65%, positioned at $83.2.
• RSI indicators show the stock to be may be oversold.
• Earnings announcement expected in 85 days.

What The Experts Say On Netflix

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $115.2.

• Maintaining their stance, an analyst from Guggenheim continues to hold a Buy rating for Netflix, targeting a price of $130.
• Maintaining their stance, an analyst from Rosenblatt continues to hold a Neutral rating for Netflix, targeting a price of $94.
• Maintaining their stance, an analyst from TD Cowen continues to hold a Buy rating for Netflix, targeting a price of $112.
• Maintaining their stance, an analyst from Canaccord Genuity continues to hold a Buy rating for Netflix, targeting a price of $125.
• In a cautious move, an analyst from Wedbush downgraded its rating to Outperform, setting a price target of $115.

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.