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This Is What Whales Are Betting on Netflix

Someone with a lot of money to spend has taken a bearish stance on Netflix (NASDAQ:NFLX).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don’t know. But when something this big happens with NFLX, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga‘s options scanner spotted 15 uncommon options trades for Netflix.

This isn’t normal.

The overall sentiment of these big-money traders is split between 20% bullish and 80%, bearish.

Out of all of the special options we uncovered, 10 are puts, for a total amount of $1,539,759, and 5 are calls, for a total amount of $260,303.

What’s The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $500.0 to $610.0 for Netflix over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Netflix options trades today is 1571.77 with a total volume of 6,107.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Netflix’s big money trades within a strike price range of $500.0 to $610.0 over the last 30 days.

Netflix Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol
PUT/CALL
Trade Type
Sentiment
Exp. Date
Strike Price
Total Trade Price
Open Interest
Volume
NFLX
PUT
SWEEP
BEARISH
01/21/22
$545.00
$451.4K
864
268
NFLX
PUT
SWEEP
BEARISH
02/18/22
$545.00
$298.1K
491
1.2K
NFLX
PUT
SWEEP
BEARISH
02/18/22
$515.00
$175.3K
812
182
NFLX
PUT
SWEEP
BEARISH
03/17/23
$550.00
$166.0K
314
58
NFLX
PUT
SWEEP
BULLISH
01/21/22
$505.00
$158.5K
1.3K
487

Where Is Netflix Standing Right Now?

With a volume of 1,513,512, the price of NFLX is down -1.9% at $542.75.
RSI indicators hint that the underlying stock may be oversold.
Next earnings are expected to be released in 13 days.

What The Experts Say On Netflix:

JP Morgan has decided to maintain their Overweight rating on Netflix, which currently sits at a price target of $725.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.

Original Post: benzinga.com

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