Benzinga | Nov 2, 2021 11:52AM EDT

Netflix Whale Trades Spotted

Someone with a lot of money to spend (and possibly insider knowledge) has taken a bullish 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 20 uncommon options trades for Netflix.

This isn't normal.

The overall sentiment of these big-money traders is split between 50.0% bullish and 50.0%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $213,226, and 14 are calls, for a total amount of $716,871.

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 $440.0 to $685.0 for Netflix over the last 3 months.

Volume & Open Interest Development

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 $440.0 to $685.0 in the last 30 days.

Netflix Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestNFLX CALL TRADE BULLISH 01/19/ $440.00 $228.2K 2 8 24NFLX CALL TRADE BEARISH 01/21/ $600.00 $93.5K 3.2K 10 22NFLX CALL SWEEP BULLISH 06/17/ $650.00 $59.5K 1.6K 9 22NFLX PUT TRADE BEARISH 11/12/ $675.00 $49.5K 170 51 21NFLX PUT TRADE BEARISH 01/21/ $680.00 $39.2K 192 19 22

Where Is Netflix Standing Right Now?

* With a volume of 875,595, the price of NFLX is down -0.32% at $678.97.

* RSI indicators hint that the underlying stock may be approaching overbought.

* Next earnings are expected to be released in 77 days.

What The Experts Say On Netflix:

* Canaccord Genuity has decided to maintain their Buy rating on Netflix, which currently sits at a price target of $750.0.

* Piper Sandler has decided to maintain their Overweight rating on Netflix, which currently sits at a price target of $705.0.

* Wells Fargo has decided to maintain their Overweight rating on Netflix, which currently sits at a price target of $800.0.

* Cowen & Co. has decided to maintain their Outperform rating on Netflix, which currently sits at a price target of $750.0.

* Jefferies has decided to maintain their Buy rating on Netflix, which currently sits at a price target of $737.0.

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.