Market Whales and Their Recent Bets on NFLX Options

Netflix, Inc. +1.74%

Netflix, Inc.




Whales with a lot of money to spend have taken a noticeably bearish stance on Netflix.

Looking at options history for Netflix (NASDAQ:NFLX) we detected 9 trades.

If we consider the specifics of each trade, it is accurate to state that 22% of the investors opened trades with bullish expectations and 77% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $133,872 and 6, calls, for a total amount of $263,493.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $550.0 to $590.0 for Netflix over the recent three months.

Volume & Open Interest Trends

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Netflix's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Netflix's significant trades, within a strike price range of $550.0 to $590.0, over the past month.

Netflix 30-Day Option Volume & Interest Snapshot

Options Call Chart

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
NFLX CALL SWEEP BEARISH 02/02/24 $590.00 $75.9K 4.0K 711
NFLX PUT TRADE BEARISH 03/15/24 $560.00 $68.4K 488 45
NFLX CALL SWEEP BULLISH 03/15/24 $570.00 $57.1K 1.3K 25
NFLX PUT SWEEP BEARISH 02/16/24 $550.00 $40.2K 1.4K 110
NFLX CALL SWEEP BEARISH 02/02/24 $575.00 $39.1K 1.9K 1.7K

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 almost 250 million subscribers globally. Netflix has exposure to nearly the entire global population outside of China. The firm has traditionally avoided live programming or sports content, instead focusing on on-demand access to episodic television, movies, and documentaries. The firm recently began introducing ad-supported subscription plans, giving the firm exposure to the advertising market in addition to the subscription fees that have historically accounted for nearly all its revenue.

Having examined the options trading patterns of Netflix, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Netflix Standing Right Now?

  • Trading volume stands at 240,678, with NFLX's price down by -1.39%, positioned at $567.79.
  • RSI indicators show the stock to be may be overbought.
  • Earnings announcement expected in 77 days.

What Analysts Are Saying About Netflix

5 market experts have recently issued ratings for this stock, with a consensus target price of $513.0.

  • An analyst from Keybanc persists with their Overweight rating on Netflix, maintaining a target price of $545.
  • Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Netflix with a target price of $550.
  • Consistent in their evaluation, an analyst from Benchmark keeps a Sell rating on Netflix with a target price of $425.
  • Consistent in their evaluation, an analyst from UBS keeps a Buy rating on Netflix with a target price of $570.
  • Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Netflix, targeting a price of $475.

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.

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