Benzinga | Nov 17, 2021 12:12PM EST

This Is What Whales Are Betting On Netflix

A whale with a lot of money to spend has taken a noticeably bearish stance on Netflix.

Looking at options history for Netflix (NASDAQ:NFLX) we detected 66 strange trades.

If we consider the specifics of each trade, it is accurate to state that 46.97% of the investors opened trades with bullish expectations and 53.03% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $221,114 and 60, calls, for a total amount of $3,131,545.

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 $630.0 to $720.0 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 $630.0 to $720.0 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 SWEEP BEARISH 11/19/ $700.00 $296.0K 7.4K 9.5K 21NFLX CALL SWEEP BULLISH 11/19/ $700.00 $124.1K 7.4K 22.5K 21NFLX CALL TRADE BULLISH 02/18/ $700.00 $123.7K 309 66 22NFLX CALL SWEEP BULLISH 11/19/ $700.00 $84.6K 7.4K 17.6K 21NFLX CALL SWEEP BULLISH 11/19/ $700.00 $75.2K 7.4K 9.0K 21

Where Is Netflix Standing Right Now?

* With a volume of 1,339,373, the price of NFLX is down -0.05% at $687.05.

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

* Next earnings are expected to be released in 62 days.

What The Experts Say On Netflix:

* Deutsche Bank downgraded its action to Hold with a price target of $590.0

* Morgan Stanley has decided to maintain their Overweight rating on Netflix, which currently sits at a price target of $700.0.

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

* Stifel has decided to maintain their Buy rating on Netflix, which currently sits at a price target of $690.0.

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

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.