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Deep-pocketed investors have adopted a bullish approach towards Roku (NASDAQ: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 8 extraordinary options activities for Roku. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 37% bearish. Among these notable options, 3 are puts, totaling $285,041, and 5 are calls, amounting to $413,776.
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $55.0 to $63.0 for Roku during the past quarter.
In today's trading context, the average open interest for options of Roku stands at 1117.43, with a total volume reaching 2,649.00. 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 $55.0 to $63.0, throughout the last 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROKU | CALL | SWEEP | NEUTRAL | 01/17/25 | $12.3 | $12.1 | $12.1 | $60.00 | $181.5K | 2.8K | 95 |
| ROKU | CALL | SWEEP | BULLISH | 05/17/24 | $1.5 | $1.09 | $1.4 | $59.00 | $134.9K | 2.2K | 1.0K |
| ROKU | PUT | SWEEP | BEARISH | 05/17/24 | $2.95 | $2.75 | $2.75 | $63.00 | $124.3K | 266 | 983 |
| ROKU | PUT | SWEEP | BULLISH | 05/17/24 | $2.8 | $2.79 | $2.8 | $63.00 | $106.9K | 266 | 383 |
| ROKU | PUT | SWEEP | BEARISH | 12/20/24 | $9.0 | $8.85 | $8.97 | $60.00 | $53.8K | 388 | 61 |
Roku enables consumers to stream television programming. It has more than 80 million streaming households and provided well over 100 billion streaming hours in 2023. Roku is the top streaming operating system in the US, reaching more than half of broadband households, according to the company. Roku's OS is built into streaming devices and televisions that Roku sells and on connected televisions from other manufacturers that license Roku's name and software. Roku also operates the Roku Channel, a free, ad-supported streaming television platform that offers a mix of on-demand and live television programming. Roku generates revenue primarily from selling devices, licensing, and advertising, and it receives fees from subscription streaming platforms that sell subscriptions through Roku.
In the last month, 5 experts released ratings on this stock with an average target price of $82.4.
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.
Posted In: ROKU
