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Investors with a lot of money to spend have taken a bearish stance on Netflix (NASDAQ:NFLX).
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with NFLX, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for Netflix.
This isn't normal.
The overall sentiment of these big-money traders is split between 36% bullish and 45%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $61,750, and 10, calls, for a total amount of $455,332.
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $557.5 and $650.0 for Netflix, spanning the last three months.
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $557.5 to $650.0 in the last 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NFLX | CALL | SWEEP | BEARISH | 05/17/24 | $2.81 | $2.75 | $2.75 | $600.00 | $82.5K | 4.1K | 303 |
| NFLX | CALL | TRADE | BEARISH | 07/19/24 | $32.25 | $32.0 | $32.0 | $570.00 | $64.0K | 361 | 3 |
| NFLX | PUT | SWEEP | NEUTRAL | 05/10/24 | $12.3 | $9.7 | $12.4 | $557.50 | $61.7K | 94 | 0 |
| NFLX | CALL | TRADE | BULLISH | 05/10/24 | $10.65 | $9.6 | $10.65 | $560.00 | $53.2K | 513 | 67 |
| NFLX | CALL | TRADE | BEARISH | 09/20/24 | $50.45 | $50.1 | $50.1 | $560.00 | $50.1K | 183 | 0 |
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.
In light of the recent options history for Netflix, it's now appropriate to focus on the company itself. We aim to explore its current performance.
In the last month, 5 experts released ratings on this stock with an average target price of $689.6.
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 Netflix with Benzinga Pro for real-time alerts.
Posted In: NFLX
